Olema Pharmaceuticals, Inc. $OLMA Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 56.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 217,023 shares of the company’s stock after selling 285,545 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Olema Pharmaceuticals were worth $3,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in Olema Pharmaceuticals by 9,476.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after buying an additional 1,232 shares during the period. Torren Management LLC acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter worth about $44,000. Russell Investments Group Ltd. acquired a new position in shares of Olema Pharmaceuticals in the third quarter worth about $53,000. American Century Companies Inc. acquired a new position in shares of Olema Pharmaceuticals in the second quarter worth about $54,000. Finally, Creative Planning purchased a new position in shares of Olema Pharmaceuticals in the second quarter worth approximately $83,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $12.64 on Friday. The company has a 50 day simple moving average of $12.43 and a 200-day simple moving average of $18.77. 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 capitalization of $1.10 billion, a price-to-earnings ratio of -6.26 and a beta of 2.00. Olema Pharmaceuticals, Inc. has a 52-week low of $4.37 and a 52-week high of $36.26.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Guggenheim cut their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. Wolfe Research started coverage on shares of Olema Pharmaceuticals in a research report on Friday, March 27th. They set a “peer perform” rating on the stock. The Goldman Sachs Group cut their target price on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Citigroup increased their target price on Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.10.

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.