Hennion & Walsh Asset Management Inc. Sells 61,274 Shares of Olema Pharmaceuticals, Inc. $OLMA

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 420,211 shares of the company’s stock after selling 61,274 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Olema Pharmaceuticals were worth $5,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OLMA. China Universal Asset Management Co. Ltd. increased its stake in shares of Olema Pharmaceuticals by 8.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock valued at $325,000 after acquiring an additional 987 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 acquiring an additional 1,169 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Olema Pharmaceuticals by 9,476.9% during the fourth 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 period. ProShare Advisors LLC grew its holdings in Olema Pharmaceuticals by 13.8% during the fourth 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 during the period. Finally, Torren Management LLC acquired a new position in Olema Pharmaceuticals during the fourth quarter valued at approximately $44,000. 91.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Guggenheim lowered their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Weiss Ratings downgraded Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.10.

Insider Activity

In other news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total transaction of $144,750.00. Following the completion of the sale, the director owned 715,270 shares of the company’s stock, valued at $8,282,826.60. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.56% of the stock is owned by corporate insiders.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $12.05 on Monday. The stock has a 50 day simple moving average of $11.26 and a 200 day simple moving average of $15.87. Olema Pharmaceuticals, Inc. has a 52-week low of $4.47 and a 52-week 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 firm has a market capitalization of $1.05 billion, a PE ratio of -5.97 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting the consensus estimate of ($0.52). Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.22 EPS for the current fiscal 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.