Kingdon Capital Management L.L.C. Takes $8.36 Million Position in Olema Pharmaceuticals, Inc. $OLMA

Kingdon Capital Management L.L.C. purchased a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 854,000 shares of the company’s stock, valued at approximately $8,361,000.

A number of other hedge funds have also recently added to or reduced their stakes in OLMA. AQR Capital Management LLC bought a new position in shares of Olema Pharmaceuticals in the first quarter valued at $172,000. Goldman Sachs Group Inc. increased its position in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares in the last quarter. Jane Street Group LLC increased its position in shares of Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after acquiring an additional 94,815 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Olema Pharmaceuticals by 21.1% in the 2nd quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock worth $63,000 after acquiring an additional 2,569 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Olema Pharmaceuticals by 22.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after acquiring an additional 242,997 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Down 1.3%

NASDAQ:OLMA opened at $14.71 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -7.87 and a beta of 1.93. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $24.18 and a 200 day moving average of $18.58. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, March 17th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. On average, research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. The Goldman Sachs Group boosted their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. boosted their target price on Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Finally, Piper Sandler started coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price target for the company. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total transaction of $268,800.00. Following the transaction, the director owned 727,770 shares in the company, valued at $19,562,457.60. The trade was a 1.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Naseem Zojwalla sold 99,509 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $27.66, for a total value of $2,752,418.94. Following the completion of the sale, the insider owned 4,488 shares of the company’s stock, valued at approximately $124,138.08. This trade represents a 95.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 805,501 shares of company stock valued at $23,003,832 in the last quarter. 16.36% of the stock is currently owned by company insiders.

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.