Ikarian Capital LLC Acquires Shares of 92,000 Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Ikarian Capital LLC acquired a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 92,000 shares of the company’s stock, valued at approximately $1,098,000. Ikarian Capital LLC owned approximately 0.16% of Olema Pharmaceuticals at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Portland Investment Counsel Inc. bought a new position in Olema Pharmaceuticals during the 3rd quarter valued at $143,000. Great Point Partners LLC lifted its stake in Olema Pharmaceuticals by 25.5% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after acquiring an additional 203,120 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Olema Pharmaceuticals during the 3rd quarter valued at $238,000. Charles Schwab Investment Management Inc. lifted its stake in Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock valued at $3,949,000 after acquiring an additional 207,565 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Olema Pharmaceuticals during the 3rd quarter valued at $163,000. 91.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OLMA. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Olema Pharmaceuticals currently has an average rating of “Buy” and an average price target of $27.00.

Olema Pharmaceuticals Stock Up 0.9 %

OLMA traded up $0.09 during trading hours on Tuesday, hitting $10.21. The stock had a trading volume of 1,025,371 shares, compared to its average volume of 564,210. The company’s fifty day simple moving average is $11.30 and its 200 day simple moving average is $11.90. Olema Pharmaceuticals, Inc. has a 1 year low of $7.68 and a 1 year high of $16.77. The stock has a market cap of $585.03 million, a PE ratio of -4.66 and a beta of 1.93.

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.