First Turn Management LLC Invests $15.44 Million in Olema Pharmaceuticals, Inc. $OLMA

First Turn Management LLC purchased a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 617,714 shares of the company’s stock, valued at approximately $15,443,000. Olema Pharmaceuticals makes up 1.8% of First Turn Management LLC’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLMA. AQR Capital Management LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $172,000. Goldman Sachs Group Inc. increased its stake in Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after purchasing an additional 358,412 shares in the last quarter. Jane Street Group LLC increased its stake in Olema Pharmaceuticals by 216.8% during the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after purchasing an additional 94,815 shares in the last quarter. Geode Capital Management LLC increased its stake in Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares in the last quarter. Finally, Creative Planning bought a new stake in Olema Pharmaceuticals during the 2nd quarter valued at $83,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $9.87 on Friday. Olema Pharmaceuticals, Inc. has a 1 year low of $3.89 and a 1 year high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. The firm has a market cap of $862.14 million, a price-to-earnings ratio of -4.89 and a beta of 1.98. The company has a fifty day moving average price of $13.96 and a 200-day moving average price of $20.57.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.52). As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Guggenheim decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Jefferies Financial Group assumed coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They set a “buy” rating and a $40.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Tuesday, April 21st. Finally, TD Cowen restated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.10.

Olema Pharmaceuticals 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.