BlackRock Inc. grew its holdings in Odonate Therapeutics Inc (NASDAQ:ODT) by 17.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 334,259 shares of the company’s stock after purchasing an additional 50,138 shares during the period. BlackRock Inc. owned approximately 1.24% of Odonate Therapeutics worth $7,380,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in shares of Odonate Therapeutics in the first quarter worth $128,000. California State Teachers Retirement System acquired a new position in shares of Odonate Therapeutics in the first quarter worth $218,000. Schwab Charles Investment Management Inc. acquired a new position in shares of Odonate Therapeutics in the first quarter worth $605,000. Alps Advisors Inc. acquired a new position in shares of Odonate Therapeutics in the second quarter worth $862,000. Finally, Northern Trust Corp acquired a new position in shares of Odonate Therapeutics in the first quarter worth $1,489,000. Institutional investors own 87.16% of the company’s stock.
NASDAQ ODT opened at $17.15 on Wednesday. Odonate Therapeutics Inc has a 1-year low of $14.06 and a 1-year high of $32.00. The firm has a market capitalization of $460.90 million and a PE ratio of -7.42.
Odonate Therapeutics (NASDAQ:ODT) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported ($0.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.02). Research analysts predict that Odonate Therapeutics Inc will post -3.49 EPS for the current fiscal year.
Separately, Zacks Investment Research downgraded shares of Odonate Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Odonate Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $31.00.
In other Odonate Therapeutics news, Director Boxer Capital, Llc bought 26,824 shares of the stock in a transaction on Wednesday, October 24th. The shares were purchased at an average cost of $14.72 per share, with a total value of $394,849.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin C. Tang bought 40,000 shares of the stock in a transaction on Wednesday, September 26th. The shares were acquired at an average cost of $19.75 per share, for a total transaction of $790,000.00. The disclosure for this purchase can be found here. Insiders have acquired 329,319 shares of company stock worth $6,023,316 over the last three months. Company insiders own 49.00% of the company’s stock.
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Odonate Therapeutics Profile
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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