Franklin Resources Inc. Acquires New Stake in Odonate Therapeutics (ODT)

Franklin Resources Inc. acquired a new position in shares of Odonate Therapeutics (NASDAQ:ODT) in the 4th quarter, HoldingsChannel reports. The fund acquired 1,577,927 shares of the company’s stock, valued at approximately $38,437,000. Franklin Resources Inc. owned about 0.06% of Odonate Therapeutics as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. bought a new position in Odonate Therapeutics in the fourth quarter valued at $2,611,000. Chartwell Investment Partners LLC bought a new position in Odonate Therapeutics in the fourth quarter valued at $755,000. Monashee Investment Management LLC bought a new position in Odonate Therapeutics in the fourth quarter valued at $3,125,000. Allianz Asset Management GmbH bought a new position in Odonate Therapeutics in the fourth quarter valued at $6,088,000. Finally, RTW Investments LP bought a new position in Odonate Therapeutics in the fourth quarter valued at $725,000. 78.92% of the stock is owned by institutional investors.

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Shares of Odonate Therapeutics (NASDAQ:ODT) opened at $24.01 on Tuesday. Odonate Therapeutics has a 12 month low of $15.15 and a 12 month high of $32.00.

Odonate Therapeutics (NASDAQ:ODT) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.14). equities analysts expect that Odonate Therapeutics will post -4.3 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on ODT shares. Cowen started coverage on shares of Odonate Therapeutics in a research report on Tuesday, January 2nd. They issued an “outperform” rating for the company. Jefferies Group started coverage on shares of Odonate Therapeutics in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $40.00 target price for the company. Goldman Sachs started coverage on shares of Odonate Therapeutics in a research note on Tuesday, January 2nd. They issued a “neutral” rating and a $27.00 price target for the company. Finally, Zacks Investment Research cut shares of Odonate Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, March 7th.

In other news, CEO Kevin C. Tang purchased 39,083 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was purchased at an average price of $27.17 per share, for a total transaction of $1,061,885.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin C. Tang purchased 28,612 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was purchased at an average price of $27.42 per share, with a total value of $784,541.04. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 210,000 shares of company stock valued at $5,113,567.

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About Odonate Therapeutics

Odonate Therapeutics, Inc, a pharmaceutical company, develops therapeutics to enhance the lives of patients with cancer in the United States. It is developing Tesetaxel, a novel chemotherapy agent that has completed Phase II clinical trials for patients with advanced or metastatic breast cancer. The company was founded in 2013 and is based in San Diego, California.

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Institutional Ownership by Quarter for Odonate Therapeutics (NASDAQ:ODT)

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