Bank of New York Mellon Corp grew its holdings in Odonate Therapeutics Inc (NASDAQ:ODT) by 375.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 81,426 shares of the company’s stock after buying an additional 64,310 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.30% of Odonate Therapeutics worth $1,799,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in shares of Odonate Therapeutics in the 1st quarter worth approximately $128,000. California State Teachers Retirement System bought a new position in shares of Odonate Therapeutics in the 1st quarter worth approximately $218,000. Schwab Charles Investment Management Inc. bought a new position in shares of Odonate Therapeutics in the 1st quarter worth approximately $605,000. Alps Advisors Inc. bought a new position in shares of Odonate Therapeutics in the 2nd quarter worth approximately $862,000. Finally, Northern Trust Corp bought a new position in shares of Odonate Therapeutics in the 1st quarter worth approximately $1,489,000. Institutional investors and hedge funds own 86.90% of the company’s stock.
In related news, CEO Kevin C. Tang acquired 49,685 shares of Odonate Therapeutics stock in a transaction that occurred on Monday, August 20th. The stock was bought at an average price of $19.49 per share, with a total value of $968,360.65. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin C. Tang acquired 90,000 shares of Odonate Therapeutics stock in a transaction that occurred on Thursday, September 20th. The shares were bought at an average cost of $19.55 per share, with a total value of $1,759,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 242,495 shares of company stock valued at $4,716,054. 49.00% of the stock is owned by corporate insiders.
ODT stock opened at $16.05 on Friday. Odonate Therapeutics Inc has a twelve month low of $15.15 and a twelve month high of $32.00. The company has a market cap of $521.97 million and a P/E ratio of -6.94.
Odonate Therapeutics (NASDAQ:ODT) last posted its quarterly earnings data on Monday, July 30th. The company reported ($0.79) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.82) by $0.03. On average, equities analysts forecast that Odonate Therapeutics Inc will post -3.42 earnings per share for the current year.
Separately, Zacks Investment Research lowered Odonate Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, July 5th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.00.
Odonate Therapeutics Profile
Odonate Therapeutics, Inc, a pharmaceutical company, develops therapeutics for the treatment of cancer. It focuses on the development of tesetaxel, an orally administered chemotherapy agent for patients with advanced or metastatic breast cancer (MBC). Odonate Therapeutics, Inc also conducting a Phase III study in MBC, which is known as CONTESSA.
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