Insider Buying: Odonate Therapeutics Inc (NASDAQ:ODT) CEO Purchases 76,308 Shares of Stock

Odonate Therapeutics Inc (NASDAQ:ODT) CEO Kevin C. Tang bought 76,308 shares of Odonate Therapeutics stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $27.36 per share, with a total value of $2,087,786.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of Odonate Therapeutics stock traded down $1.27 on Monday, hitting $24.88. 62,800 shares of the company’s stock traded hands, compared to its average volume of 58,122. The stock has a market cap of $699.43 million, a P/E ratio of -6.84 and a beta of 0.60. Odonate Therapeutics Inc has a 52-week low of $11.54 and a 52-week high of $28.57.

Odonate Therapeutics (NASDAQ:ODT) last released its earnings results on Thursday, April 25th. The company reported ($1.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.24) by $0.08. Equities analysts forecast that Odonate Therapeutics Inc will post -4.43 EPS for the current year.



Several hedge funds have recently bought and sold shares of the stock. Redmile Group LLC increased its holdings in shares of Odonate Therapeutics by 4.5% during the first quarter. Redmile Group LLC now owns 477,464 shares of the company’s stock valued at $10,557,000 after purchasing an additional 20,513 shares during the period. Opaleye Management Inc. raised its stake in Odonate Therapeutics by 563.3% in the first quarter. Opaleye Management Inc. now owns 325,000 shares of the company’s stock worth $7,186,000 after buying an additional 276,000 shares in the last quarter. Morgan Stanley raised its stake in Odonate Therapeutics by 46.2% in the first quarter. Morgan Stanley now owns 131,668 shares of the company’s stock worth $2,911,000 after buying an additional 41,598 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Odonate Therapeutics by 11.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 54,055 shares of the company’s stock worth $1,196,000 after buying an additional 5,566 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Odonate Therapeutics by 52.0% during the first quarter. Renaissance Technologies LLC now owns 19,300 shares of the company’s stock valued at $427,000 after purchasing an additional 6,600 shares in the last quarter. 91.48% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Odonate Therapeutics from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a research note on Tuesday, April 30th. ValuEngine upgraded Odonate Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Cowen reiterated a “buy” rating on shares of Odonate Therapeutics in a research note on Friday, February 22nd.

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About Odonate Therapeutics

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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