Rock Springs Capital Management LP Acquires 72,138 Shares of Olema Pharmaceuticals, Inc. $OLMA

Rock Springs Capital Management LP raised its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 73.4% during the first quarter, Holdings Channel reports. The fund owned 170,378 shares of the company’s stock after buying an additional 72,138 shares during the period. Rock Springs Capital Management LP’s holdings in Olema Pharmaceuticals were worth $2,540,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $1,735,000. Siren L.L.C. raised its position in Olema Pharmaceuticals by 44.1% in the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock worth $70,926,000 after purchasing an additional 1,456,249 shares during the period. Jennison Associates LLC purchased a new position in Olema Pharmaceuticals in the 4th quarter worth $24,100,000. Hennion & Walsh Asset Management Inc. lifted its stake in Olema Pharmaceuticals by 83.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock worth $11,176,000 after purchasing an additional 202,970 shares during the last quarter. Finally, SEB Asset Management AB bought a new stake in Olema Pharmaceuticals in the first quarter worth $5,061,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OLMA has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Friday, July 17th. Guggenheim dropped their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. HC Wainwright restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Finally, Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Trading Up 2.6%

Shares of OLMA opened at $12.01 on Tuesday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -5.95 and a beta of 2.00. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $11.59 and a two-hundred day simple moving average of $16.90. Olema Pharmaceuticals, Inc. has a twelve month low of $4.47 and a twelve month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.52). On average, research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

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.