Odonate Therapeutics Inc’s Quiet Period Will End on January 16th (NASDAQ:ODT)

Odonate Therapeutics’ (NASDAQ:ODT) quiet period is set to expire on Tuesday, January 16th. Odonate Therapeutics had issued 6,250,000 shares in its public offering on December 7th. The total size of the offering was $150,000,000 based on an initial share price of $24.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Several equities analysts have recently weighed in on ODT shares. Cowen started coverage on Odonate Therapeutics in a research report on Tuesday, January 2nd. They issued an “outperform” rating for the company. Jefferies Group began coverage on Odonate Therapeutics in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $40.00 price target for the company. Finally, Goldman Sachs Group began coverage on Odonate Therapeutics in a research note on Tuesday, January 2nd. They set a “neutral” rating and a $27.00 price objective for the company.

Shares of Odonate Therapeutics (ODT) opened at $23.79 on Tuesday. Odonate Therapeutics has a 52 week low of $22.31 and a 52 week high of $25.36.

In other news, Director Boxer Capital, Llc purchased 416,666 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was purchased at an average price of $24.00 per share, with a total value of $9,999,984.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin C. Tang purchased 1,291,666 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were purchased at an average cost of $24.00 per share, with a total value of $30,999,984.00. The disclosure for this purchase can be found here. Insiders have purchased 1,709,332 shares of company stock valued at $41,023,268 in the last three months.

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Odonate Therapeutics Company Profile

Odonate Therapeutics, Inc, formerly 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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