5 Best Biotech Stocks to Buy According to Mark Lampert’s Biotechnology Value Fund

2. Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Biotechnology Value Fund’s Stake Value: $186,389,000
Percent of Biotechnology Value Fund’s 13F Portfolio: 6.98%
Number of Hedge Fund Holders: 17

On October 20, shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) surged 15.6% as Michael Yee of Jefferies Financial issued a Buy rating on the stock with a $55 price target. The analyst appreciated the positive results from the company’s Elacestrant, a selective estrogen receptor degrader (SERD), which showed fewer side effects in its Phase 2 studies.

It is the third-largest holding of Biotechnology Value Fund as of Q2. The hedge fund did not make any changes to its position in the company and holds over 6.6 million shares, worth $186.3 million.

Of the 873 hedge funds tracked by Insider Monkey, 17 hedge funds have positions in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in Q2, compared with 19 in the previous quarter. The total value of these stakes is $624.3 million.