Odonate Therapeutics (NASDAQ:ODT) Lowered to “Hold” at Zacks Investment Research

Odonate Therapeutics (NASDAQ:ODT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Odonate Therapeutics, LLC is a pharmaceutical company. It engaged in the development of therapeutics to improve and extend the lives of patients with cancer. The company focused on the development of tesetaxel, a novel chemotherapy agent. It has completed Phase-II studies in patients with metastatic breast cancer. Odonate Therapeutics, LLC is based in SAN DIEGO, United States. “

Separately, ValuEngine cut Odonate Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd.

Odonate Therapeutics stock traded up $0.42 during midday trading on Tuesday, reaching $33.01. The company’s stock had a trading volume of 1,084 shares, compared to its average volume of 114,167. Odonate Therapeutics has a 52 week low of $11.54 and a 52 week high of $43.75. The business has a 50-day moving average price of $28.84 and a 200-day moving average price of $29.42. The stock has a market cap of $1.01 billion, a PE ratio of -9.18 and a beta of 1.83.

A number of institutional investors have recently added to or reduced their stakes in ODT. Tang Capital Management LLC boosted its stake in shares of Odonate Therapeutics by 7.6% during the second quarter. Tang Capital Management LLC now owns 14,075,269 shares of the company’s stock valued at $516,422,000 after purchasing an additional 989,231 shares in the last quarter. Boxer Capital LLC boosted its stake in shares of Odonate Therapeutics by 12.9% during the second quarter. Boxer Capital LLC now owns 3,363,377 shares of the company’s stock valued at $123,402,000 after purchasing an additional 384,615 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Odonate Therapeutics by 2.6% during the second quarter. Janus Henderson Group PLC now owns 1,315,426 shares of the company’s stock valued at $48,262,000 after purchasing an additional 33,325 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Odonate Therapeutics by 182.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,042,446 shares of the company’s stock valued at $38,247,000 after purchasing an additional 672,721 shares in the last quarter. Finally, Samsara BioCapital LLC boosted its stake in shares of Odonate Therapeutics by 3.4% during the second quarter. Samsara BioCapital LLC now owns 615,850 shares of the company’s stock valued at $22,596,000 after purchasing an additional 20,000 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

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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