Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 27.2% in the 4th quarter, HoldingsChannel reports. The firm owned 72,877 shares of the company’s stock after selling 27,170 shares during the period. Two Sigma Investments LP’s holdings in Olema Pharmaceuticals were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at $119,000. ProShare Advisors LLC grew its position in shares of Olema Pharmaceuticals by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock valued at $83,000 after buying an additional 3,298 shares during the last quarter. MPM Bioimpact LLC grew its position in Olema Pharmaceuticals by 8.7% in the 4th quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock worth $16,980,000 after purchasing an additional 231,954 shares during the last quarter. Paradigm Biocapital Advisors LP grew its position in Olema Pharmaceuticals by 32.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock worth $42,588,000 after purchasing an additional 1,801,370 shares during the last quarter. Finally, Millennium Management LLC grew its position in Olema Pharmaceuticals by 1,154.4% in the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company’s stock worth $5,709,000 after purchasing an additional 901,159 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $4.38 on Tuesday. The stock has a market cap of $299.68 million, a price-to-earnings ratio of -2.00 and a beta of 1.99. The company has a 50 day moving average of $4.51 and a 200-day moving average of $5.39. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.13. Equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OLMA. The Goldman Sachs Group reduced their price target on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Monday, April 28th. Finally, Oppenheimer dropped their price target on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 14th.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women’s cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.