Wellington Management Group LLP Buys 97,428 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Wellington Management Group LLP grew its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,002,685 shares of the company’s stock after purchasing an additional 97,428 shares during the period. Wellington Management Group LLP’s holdings in Olema Pharmaceuticals were worth $11,972,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Olema Pharmaceuticals by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after buying an additional 1,132 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in Olema Pharmaceuticals during the second quarter worth $945,000. Bank of New York Mellon Corp boosted its position in Olema Pharmaceuticals by 72.1% in the second quarter. Bank of New York Mellon Corp now owns 139,923 shares of the company’s stock worth $1,514,000 after purchasing an additional 58,622 shares during the last quarter. Rhumbline Advisers grew its stake in Olema Pharmaceuticals by 43.5% in the 2nd quarter. Rhumbline Advisers now owns 59,261 shares of the company’s stock valued at $641,000 after purchasing an additional 17,953 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Olema Pharmaceuticals by 26.9% during the 2nd quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock valued at $8,383,000 after purchasing an additional 164,143 shares during the last quarter. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Performance

OLMA stock opened at $6.75 on Friday. The stock has a fifty day moving average of $10.70 and a 200-day moving average of $11.88. Olema Pharmaceuticals, Inc. has a fifty-two week low of $6.24 and a fifty-two week high of $16.77. The company has a market capitalization of $386.76 million, a price-to-earnings ratio of -3.08 and a beta of 1.92.

Insiders Place Their Bets

In other news, Director Cyrus Harmon sold 8,256 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $77,358.72. Following the completion of the transaction, the director now directly owns 772,277 shares of the company’s stock, valued at $7,236,235.49. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David C. Myles sold 12,452 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the sale, the insider now owns 611,947 shares in the company, valued at approximately $5,740,062.86. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,036 shares of company stock worth $684,472 over the last quarter. 19.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company 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.