Portland Investment Counsel Inc. Buys Shares of 12,000 Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Portland Investment Counsel Inc. purchased a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,000 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds and other institutional investors have also modified their holdings of OLMA. Point72 Asset Management L.P. acquired a new position in shares of Olema Pharmaceuticals in the second quarter valued at approximately $34,753,000. Candriam S.C.A. grew its stake in shares of Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after acquiring an additional 705,655 shares in the last quarter. Great Point Partners LLC grew its stake in shares of Olema Pharmaceuticals by 25.5% in the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock worth $11,940,000 after acquiring an additional 203,120 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Olema Pharmaceuticals by 9.9% during the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock worth $10,167,000 after acquiring an additional 76,720 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Olema Pharmaceuticals by 7.5% in the second quarter. Marshall Wace LLP now owns 588,996 shares of the company’s stock valued at $6,373,000 after acquiring an additional 41,193 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $10.12 on Friday. The stock’s 50-day simple moving average is $11.30 and its 200-day simple moving average is $11.88. The firm has a market capitalization of $579.88 million, a PE ratio of -4.62 and a beta of 2.02. Olema Pharmaceuticals, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $16.77.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OLMA shares. Oppenheimer reissued an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Company Profile

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.