Odonate Therapeutics Target of Unusually Large Options Trading (NASDAQ:ODT)


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Odonate Therapeutics, Inc. (NASDAQ:ODT) was the target of some unusual options trading on Wednesday. Investors bought 25,375 call options on the stock. This represents an increase of 2,954% compared to the average volume of 831 call options.

A number of equities analysts have issued reports on ODT shares. Lifesci Capital cut Odonate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 22nd. Cowen cut Odonate Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 22nd. Jefferies Financial Group cut Odonate Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $45.00 to $4.00 in a report on Monday, March 22nd. Finally, The Goldman Sachs Group cut their target price on Odonate Therapeutics from $11.00 to $4.00 and set a “sell” rating on the stock in a report on Monday, March 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Odonate Therapeutics currently has an average rating of “Hold” and an average price target of $18.75.

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 position in shares of Odonate Therapeutics by 127.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,543 shares of the company’s stock valued at $287,000 after purchasing an additional 865 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Odonate Therapeutics by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 29,865 shares of the company’s stock valued at $401,000 after purchasing an additional 900 shares during the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Odonate Therapeutics by 12.9% during the 4th quarter. Virginia Retirement Systems ET AL now owns 11,400 shares of the company’s stock valued at $219,000 after purchasing an additional 1,300 shares during the last quarter. American International Group Inc. increased its position in shares of Odonate Therapeutics by 16.7% during the 4th quarter. American International Group Inc. now owns 9,124 shares of the company’s stock valued at $175,000 after purchasing an additional 1,305 shares during the last quarter. Finally, State Street Corp increased its position in shares of Odonate Therapeutics by 0.6% during the 3rd quarter. State Street Corp now owns 248,662 shares of the company’s stock valued at $3,340,000 after purchasing an additional 1,481 shares during the last quarter. 96.00% of the stock is owned by institutional investors and hedge funds.

NASDAQ ODT traded up $0.77 on Wednesday, reaching $4.23. The company had a trading volume of 2,322,527 shares, compared to its average volume of 1,406,788. The stock has a market capitalization of $163.29 million, a P/E ratio of -1.02 and a beta of 0.66. The company’s fifty day moving average is $15.19 and its 200 day moving average is $16.78. Odonate Therapeutics has a 52-week low of $3.02 and a 52-week high of $46.50.

Odonate Therapeutics (NASDAQ:ODT) last released its quarterly earnings results on Tuesday, February 23rd. The company reported ($0.87) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.09). Sell-side analysts predict that Odonate Therapeutics will post -3.74 earnings per share for the current fiscal year.

About Odonate Therapeutics

Odonate Therapeutics, Inc is a pharmaceutical company, which engages in the development of therapeutics that improves and extends the lives of patients with cancer. It focuses on the development of tesetaxel, a novel chemotherapy agent that belongs to a class of drugs known as taxanes, which are used in the treatment of cancer.

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