Odonate Therapeutics’ (NASDAQ:ODT) quiet period will end on Tuesday, January 16th. Odonate Therapeutics had issued 6,250,000 shares in its initial public offering on December 7th. The total size of the offering was $150,000,000 based on an initial share price of $24.00. 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 end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
ODT has been the topic of a number of recent research reports. Goldman Sachs Group initiated coverage on shares of Odonate Therapeutics in a research report on Tuesday, January 2nd. They set a “neutral” rating and a $27.00 price target on the stock. Jefferies Group initiated coverage on shares of Odonate Therapeutics in a research report on Tuesday, January 2nd. They set a “buy” rating and a $40.00 price target on the stock. Finally, Cowen initiated coverage on shares of Odonate Therapeutics in a research report on Tuesday, January 2nd. They set an “outperform” rating on the stock.
Odonate Therapeutics (ODT) opened at $23.69 on Thursday. The firm has a market cap of $636.23 and a P/E ratio of -33.37. Odonate Therapeutics has a 12-month low of $22.31 and a 12-month high of $25.36.
In other Odonate Therapeutics news, Director Boxer Capital, Llc purchased 416,666 shares of Odonate Therapeutics stock in a transaction on Wednesday, December 6th. The shares were purchased at an average cost of $24.00 per share, with a total value of $9,999,984.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin C. Tang purchased 1,291,666 shares of Odonate Therapeutics stock in a transaction on Thursday, December 7th. The shares were acquired at an average cost of $24.00 per share, for a total transaction of $30,999,984.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 1,709,332 shares of company stock worth $41,023,268.
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About Odonate Therapeutics
Odonate Therapeutics, LLC is a pharmaceutical company. The Company is engaged in the development of therapeutics to improve and extend the lives of patients with cancer. It is focused on the development of tesetaxel, a novel chemotherapy agent. It has completed Phase-II studies in patients with metastatic breast cancer (MBC).
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