Odonate Therapeutics (NASDAQ:ODT) Trading Down 9.7%


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Shares of Odonate Therapeutics, Inc. (NASDAQ:ODT) were down 9.7% on Tuesday . The stock traded as low as $20.72 and last traded at $21.74. Approximately 765,413 shares traded hands during mid-day trading, an increase of 64% from the average daily volume of 466,658 shares. The stock had previously closed at $24.08.

Several research analysts recently weighed in on ODT shares. Zacks Investment Research upgraded shares of Odonate Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, December 3rd. Lifesci Capital reiterated an “outperform” rating on shares of Odonate Therapeutics in a research report on Wednesday, October 28th.

The business has a 50 day moving average of $22.44 and a 200 day moving average of $19.00. The company has a market cap of $837.66 million, a PE ratio of -5.55 and a beta of 0.66.

In related news, Director Boxer Capital, Llc purchased 300,000 shares of Odonate Therapeutics stock in a transaction dated Monday, December 28th. The stock was purchased at an average cost of $17.06 per share, for a total transaction of $5,118,000.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at $51,180. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kevin C. Tang purchased 275,784 shares of Odonate Therapeutics stock in a transaction dated Wednesday, December 23rd. The shares were bought at an average price of $15.16 per share, with a total value of $4,180,885.44. Insiders have acquired 675,784 shares of company stock valued at $11,044,885 in the last three months. Insiders own 48.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its holdings in Odonate Therapeutics by 127.6% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,543 shares of the company’s stock worth $287,000 after buying an additional 865 shares in the last quarter. California Public Employees Retirement System increased its holdings in Odonate Therapeutics by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 29,865 shares of the company’s stock worth $401,000 after buying an additional 900 shares in the last quarter. Virginia Retirement Systems ET AL increased its holdings in Odonate Therapeutics by 12.9% in the 4th quarter. Virginia Retirement Systems ET AL now owns 11,400 shares of the company’s stock worth $219,000 after buying an additional 1,300 shares in the last quarter. American International Group Inc. increased its holdings in Odonate Therapeutics by 16.7% in the 4th quarter. American International Group Inc. now owns 9,124 shares of the company’s stock worth $175,000 after buying an additional 1,305 shares in the last quarter. Finally, State Street Corp increased its holdings in Odonate Therapeutics by 0.6% in the 3rd quarter. State Street Corp now owns 248,662 shares of the company’s stock worth $3,340,000 after buying an additional 1,481 shares in the last quarter. Institutional investors own 96.00% of the company’s stock.

About Odonate Therapeutics (NASDAQ:ODT)

Odonate Therapeutics, Inc, a pharmaceutical company, develops therapeutics for the treatment of cancer. It is developing tesetaxel, an orally administered chemotherapy agent, which is in Phase III clinical study for patients with locally advanced or metastatic breast cancer; and CONTESSA 2 and CONTESSA TRIO, which is in Phase II clinical study for central nervous system metastases and various cancer treatments.

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