Jacobs Levy Equity Management Inc. Sells 12,478 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Jacobs Levy Equity Management Inc. trimmed its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 14.3% in the third quarter, HoldingsChannel reports. The firm owned 74,919 shares of the company’s stock after selling 12,478 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Olema Pharmaceuticals were worth $895,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its position in shares of Olema Pharmaceuticals by 67.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after acquiring an additional 4,442 shares during the last quarter. Portland Investment Counsel Inc. purchased a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at $143,000. SG Americas Securities LLC bought a new stake in shares of Olema Pharmaceuticals during the 3rd quarter worth $156,000. Cubist Systematic Strategies LLC purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth about $145,000. Finally, Intech Investment Management LLC bought a new position in Olema Pharmaceuticals during the third quarter valued at about $163,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $10.45 on Monday. The stock has a market capitalization of $598.79 million, a P/E ratio of -4.77 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 52-week low of $7.68 and a 52-week high of $16.77. The stock’s 50-day simple moving average is $11.07 and its 200 day simple moving average is $11.91.

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, November 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $27.00.

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.