Short Interest in Odyssey Therapeutics, Inc. (NASDAQ:ODTX) Grows By 494.7%

Odyssey Therapeutics, Inc. (NASDAQ:ODTX) was the recipient of a significant increase in short interest in May. As of May 29th, there was short interest totaling 514,441 shares, an increase of 494.7% from the May 14th total of 86,503 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 335,136 shares, the days-to-cover ratio is currently 1.5 days.

Insider Activity

In related news, Director Dimension Capital Ii, L.P. purchased 1,111,111 shares of the stock in a transaction on Friday, May 8th. The shares were bought at an average price of $18.00 per share, for a total transaction of $19,999,998.00. Following the completion of the acquisition, the director directly owned 3,333,516 shares in the company, valued at approximately $60,003,288. This trade represents a 50.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nan (Ln) Li purchased 1,111,111 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $18.00 per share, for a total transaction of $19,999,998.00. Following the acquisition, the director owned 3,333,516 shares of the company’s stock, valued at approximately $60,003,288. The trade was a 50.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 4,183,777 shares of company stock valued at $75,319,986.

Odyssey Therapeutics Price Performance

Odyssey Therapeutics stock traded up $0.61 on Thursday, hitting $16.81. The company’s stock had a trading volume of 210,573 shares, compared to its average volume of 323,244. Odyssey Therapeutics has a one year low of $15.35 and a one year high of $20.30.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ODTX shares. TD Cowen started coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued a “buy” rating on the stock. Zacks Research upgraded shares of Odyssey Therapeutics to a “hold” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald started coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “overweight” rating on the stock. Oppenheimer started coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Odyssey Therapeutics to a “hold” rating in a research note on Saturday, May 16th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.00.