Cormorant Asset Management LP Takes $68.75 Million Position in Olema Pharmaceuticals, Inc. $OLMA

Cormorant Asset Management LP acquired a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,750,000 shares of the company’s stock, valued at approximately $68,750,000. Olema Pharmaceuticals makes up approximately 3.2% of Cormorant Asset Management LP’s investment portfolio, making the stock its 9th largest position. Cormorant Asset Management LP owned about 4.01% of Olema Pharmaceuticals as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Olema Pharmaceuticals by 14.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after buying an additional 477 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Olema Pharmaceuticals by 8.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock worth $325,000 after purchasing an additional 987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Olema Pharmaceuticals by 44.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock worth $96,000 after purchasing an additional 1,169 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after purchasing an additional 1,232 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Olema Pharmaceuticals by 13.8% in the 4th quarter. ProShare Advisors LLC now owns 14,367 shares of the company’s stock valued at $359,000 after purchasing an additional 1,740 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They set a “buy” rating and a $40.00 price objective on the stock. HC Wainwright reissued a “buy” rating on shares of Olema Pharmaceuticals in a research note on Friday, May 22nd. The Goldman Sachs Group decreased their price objective on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, TD Cowen reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $9.44 on Thursday. Olema Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The company has a 50 day moving average price of $13.62 and a 200 day moving average price of $20.16. The firm has a market capitalization of $824.58 million, a price-to-earnings ratio of -4.67 and a beta of 1.98.

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

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.