Odonate Therapeutics Inc (NASDAQ:ODT) Sees Significant Increase in Short Interest

Odonate Therapeutics Inc (NASDAQ:ODT) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,324,200 shares, a growth of 12.7% from the June 30th total of 1,175,400 shares. Based on an average daily trading volume, of 125,900 shares, the short-interest ratio is currently 10.5 days. Approximately 5.8% of the shares of the stock are short sold.

In other Odonate Therapeutics news, CEO Kevin C. Tang acquired 93,692 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was bought at an average price of $24.92 per share, with a total value of $2,334,804.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin C. Tang acquired 769,231 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of $26.00 per share, with a total value of $20,000,006.00. The disclosure for this purchase can be found here. Insiders have purchased 1,393,077 shares of company stock valued at $36,230,094 in the last three months. 59.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its holdings in shares of Odonate Therapeutics by 1,187.5% in the first quarter. BNP Paribas Arbitrage SA now owns 1,442 shares of the company’s stock worth $32,000 after buying an additional 1,330 shares during the period. Meeder Asset Management Inc. increased its holdings in shares of Odonate Therapeutics by 198.7% in the second quarter. Meeder Asset Management Inc. now owns 1,574 shares of the company’s stock worth $57,000 after buying an additional 1,047 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Odonate Therapeutics by 106.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,703 shares of the company’s stock worth $63,000 after buying an additional 880 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Odonate Therapeutics by 109.8% in the second quarter. Russell Investments Group Ltd. now owns 5,351 shares of the company’s stock worth $196,000 after buying an additional 2,800 shares during the period. Finally, Swiss National Bank purchased a new position in shares of Odonate Therapeutics in the second quarter worth about $455,000. Institutional investors and hedge funds own 77.79% of the company’s stock.

NASDAQ ODT opened at $33.44 on Friday. The stock’s 50-day simple moving average is $36.84 and its two-hundred day simple moving average is $25.32. Odonate Therapeutics has a twelve month low of $11.54 and a twelve month high of $43.75. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -9.19 and a beta of 1.69.

Odonate Therapeutics (NASDAQ:ODT) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($1.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.09. Analysts expect that Odonate Therapeutics will post -4.62 earnings per share for the current year.

Several research firms recently issued reports on ODT. Cowen reissued a “buy” rating on shares of Odonate Therapeutics in a research note on Monday, June 3rd. Zacks Investment Research raised Odonate Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday. Finally, ValuEngine downgraded Odonate Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

Odonate Therapeutics Company Profile

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. The company was founded in 2013 and is based in San Diego, California.

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