Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Major Shareholder Bain Capital Life Sciences Inv Buys 300,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. The trade was a 4.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Olema Pharmaceuticals Trading Down 4.0 %

Shares of Olema Pharmaceuticals stock traded down $0.20 during trading on Monday, hitting $4.84. 981,563 shares of the stock traded hands, compared to its average volume of 1,431,138. The stock’s fifty day simple moving average is $8.35 and its 200 day simple moving average is $11.01. The firm has a market cap of $277.32 million, a P/E ratio of -2.21 and a beta of 2.05. Olema Pharmaceuticals, Inc. has a 52-week low of $4.60 and a 52-week high of $16.77.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its position in shares of Olema Pharmaceuticals by 14.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after purchasing an additional 475,447 shares during the period. State Street Corp increased its holdings in Olema Pharmaceuticals by 1.1% during the third quarter. State Street Corp now owns 1,969,963 shares of the company’s stock valued at $23,521,000 after buying an additional 21,986 shares during the period. Wellington Management Group LLP raised its stake in Olema Pharmaceuticals by 10.8% in the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after buying an additional 97,428 shares in the last quarter. Great Point Partners LLC lifted its holdings in Olema Pharmaceuticals by 25.5% during the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock worth $11,940,000 after buying an additional 203,120 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Olema Pharmaceuticals by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock valued at $10,167,000 after acquiring an additional 76,720 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $27.00.

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.