Birchview Capital LP purchased a new position in Odonate Therapeutics Inc (NASDAQ:ODT) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,000 shares of the company’s stock, valued at approximately $388,000. Birchview Capital LP owned about 0.07% of Odonate Therapeutics at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Schwab Charles Investment Management Inc. bought a new position in shares of Odonate Therapeutics in the first quarter worth about $605,000. Northern Trust Corp bought a new position in shares of Odonate Therapeutics in the first quarter worth about $1,489,000. BlackRock Inc. bought a new position in shares of Odonate Therapeutics in the first quarter worth about $6,018,000. The Manufacturers Life Insurance Company bought a new position in shares of Odonate Therapeutics in the first quarter worth about $128,000. Finally, California State Teachers Retirement System bought a new position in shares of Odonate Therapeutics in the first quarter worth about $218,000. 86.90% of the stock is owned by institutional investors.
In other news, CEO Kevin C. Tang purchased 22,810 shares of the stock in a transaction that occurred on Wednesday, August 15th. The shares were purchased at an average cost of $18.93 per share, for a total transaction of $431,793.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin C. Tang purchased 49,685 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were purchased at an average price of $19.49 per share, for a total transaction of $968,360.65. The disclosure for this purchase can be found here. Insiders have purchased 319,319 shares of company stock worth $5,874,616 over the last 90 days. Corporate insiders own 49.00% of the company’s stock.
Shares of ODT opened at $14.92 on Friday. Odonate Therapeutics Inc has a 12-month low of $14.06 and a 12-month high of $32.00.
Odonate Therapeutics (NASDAQ:ODT) last issued its quarterly earnings results on Tuesday, October 23rd. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.02). As a group, equities research analysts predict that Odonate Therapeutics Inc will post -3.49 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 note on Thursday, July 5th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Odonate Therapeutics has an average rating of “Hold” and an average price target of $31.00.
About Odonate Therapeutics
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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