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 Saturday.

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. “

NASDAQ:ODT opened at $15.23 on Friday. The company has a market capitalization of $408.59 million and a PE ratio of -6.59. Odonate Therapeutics has a 12-month low of $14.06 and a 12-month high of $32.00.

Odonate Therapeutics (NASDAQ:ODT) last released its earnings results on Tuesday, October 23rd. The company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.96) by ($0.02). Sell-side analysts forecast that Odonate Therapeutics will post -3.49 EPS for the current year.

In other Odonate Therapeutics news, CEO Kevin C. Tang acquired 49,685 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were purchased at an average price of $19.49 per share, with a total value of $968,360.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin C. Tang acquired 40,000 shares of the company’s stock in a transaction that occurred 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. In the last three months, insiders bought 309,084 shares of company stock worth $5,721,296. Corporate insiders own 49.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in Odonate Therapeutics by 472.8% during the second quarter. Janus Henderson Group PLC now owns 1,074,348 shares of the company’s stock worth $23,722,000 after acquiring an additional 886,794 shares during the period. Redmile Group LLC grew its holdings in Odonate Therapeutics by 2.8% during the second quarter. Redmile Group LLC now owns 610,600 shares of the company’s stock worth $13,482,000 after acquiring an additional 16,400 shares during the period. BlackRock Inc. grew its holdings in Odonate Therapeutics by 17.6% during the second quarter. BlackRock Inc. now owns 334,259 shares of the company’s stock worth $7,380,000 after acquiring an additional 50,138 shares during the period. Bank of New York Mellon Corp grew its holdings in Odonate Therapeutics by 375.7% during the second quarter. Bank of New York Mellon Corp now owns 81,426 shares of the company’s stock worth $1,799,000 after acquiring an additional 64,310 shares during the period. Finally, Northern Trust Corp grew its holdings in Odonate Therapeutics by 6.0% during the second quarter. Northern Trust Corp now owns 74,510 shares of the company’s stock worth $1,645,000 after acquiring an additional 4,204 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Odonate Therapeutics Company 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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