Odonate Therapeutics LLC’s (ODT) Quiet Period Set To End on January 16th
Odonate Therapeutics’ (NASDAQ:ODT) quiet period will expire on Tuesday, January 16th. Odonate Therapeutics had issued 6,250,000 shares in its IPO on December 7th. The total size of the offering was $150,000,000 based on an initial share price of $24.00. During Odonate Therapeutics’ quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
ODT has been the topic of a number of research reports. Cowen initiated coverage on shares of Odonate Therapeutics in a report on Tuesday, January 2nd. They set an “outperform” rating on the stock. Jefferies Group initiated coverage on shares of Odonate Therapeutics in a report on Tuesday, January 2nd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Goldman Sachs Group initiated coverage on shares of Odonate Therapeutics in a report on Tuesday, January 2nd. They set a “neutral” rating and a $27.00 target price on the stock.
Shares of Odonate Therapeutics (NASDAQ:ODT) opened at $24.12 on Tuesday. Odonate Therapeutics has a fifty-two week low of $22.31 and a fifty-two week high of $25.36. The company has a market cap of $648.60 and a price-to-earnings ratio of -33.97.
In other news, Director Boxer Capital, Llc purchased 416,666 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average price of $24.00 per share, for a total transaction of $9,999,984.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin C. Tang purchased 1,291,666 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was purchased at an average price of $24.00 per share, for a total transaction of $30,999,984.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,709,332 shares of company stock worth $41,023,268.
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Odonate Therapeutics Company Profile
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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