Odyssey Therapeutics, Inc.’s (NASDAQ:ODTX) Quiet Period To Expire on June 17th

Odyssey Therapeutics’ (NASDAQ:ODTX) quiet period will expire on Wednesday, June 17th. Odyssey Therapeutics had issued 15,500,000 shares in its initial public offering on May 8th. The total size of the offering was $279,000,000 based on an initial share price of $18.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ODTX shares. Cantor Fitzgerald began coverage on Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “overweight” rating on the stock. TD Cowen began coverage on Odyssey Therapeutics in a report on Tuesday, June 2nd. They issued a “buy” rating on the stock. Oppenheimer began coverage on Odyssey Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $40.00 target price on the stock. JPMorgan Chase & Co. began coverage on Odyssey Therapeutics in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $26.00 target price on the stock. Finally, Wall Street Zen raised Odyssey Therapeutics to a “hold” rating in a report on Saturday, May 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Odyssey Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Odyssey Therapeutics Stock Performance

NASDAQ:ODTX opened at $17.09 on Wednesday. Odyssey Therapeutics has a 12 month low of $15.35 and a 12 month high of $20.30.

Insider Activity at Odyssey Therapeutics

In other news, major shareholder Tpg Gp A, Llc acquired 1,388,889 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $18.00 per share, with a total value of $25,000,002.00. Following the completion of the acquisition, the insider owned 3,690,146 shares in the company, valued at $66,422,628. This trade represents a 60.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nan (Ln) Li acquired 1,111,111 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $19,999,998.00. Following the acquisition, the director owned 3,333,516 shares of the company’s stock, valued at approximately $60,003,288. The trade was a 50.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 4,183,777 shares of company stock valued at $75,319,986.