Wellington Management Co. LLP recently announced the acquisition of new stake in Odonate Therapeutics Inc. (NASDAQ:ODT). The institutional investor has increased its shareholding in the Healthcare company by 5.03% to 1.98 million shares with purchase of 94896.0 shares. This fresh investment now brings its stake to 6.17% valued currently at $72.06 million. In addition, Janus Capital Management LLC raised its holdings by 75151.0 to 1.66 million shares. And BlackRock Fund Advisors has lifted its position by 15.45% or 0.11 million shares – to 0.8 million shares.
With over 2.58 million Odonate Therapeutics Inc. (ODT) shares trading Friday and a closing price of $17.88 on the day, the dollar volume was approximately $46.06 million. The shares have shown a negative weekly performance of -46.69% and its price on 08/28/20 gained nearly 20.53%. Currently, there are 30.68M common shares owned by the public and among those 29.90M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ODT have a consensus price objective of $41.67. The analysts have set the share’s price value over the next 12 months at a high of $56.00 and a low of $24.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Odonate Therapeutics Inc. stock is 2.20 for the next 12 months. But an upside of 68.07% will see the stock hit the forecast high price target while mean target price for the stock is $45.00.
Insiders at the company have transacted a total of 71 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 71 of these insider trades were purchases, accounting for 153,710 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Odonate Therapeutics Inc. are Janus Henderson Global Life Scien, Janus Henderson Capital Funds Plc, and FTIF SICAV – Biotechnology Discov. Janus Henderson Global Life Scien owns 0.58 million shares of the company’s stock, all valued at over $21.24 million. The company bought an additional 16698.0 shares recently to bring their total holdings to about 1.82% of the shares outstanding. Janus Henderson Capital Funds Plc bought 15854.0 shares to see its total holdings expand to 0.39 million shares valued at over $14.24 million and representing 1.22% of the shares outstanding. FTIF SICAV – Biotechnology Discov sold 33600.0 shares to bring its total holdings to over 0.38 million shares at a value of $13.95 million. FTIF SICAV – Biotechnology Discov now owns shares totaling to 1.19% of the shares outstanding.
Shares of Odonate Therapeutics Inc. (NASDAQ: ODT) opened at $16.62, up $1.78 from a prior closing price of $14.84. However, the script later closed the day at $17.88, up 20.53%. The company’s stock has a 5-day price change of -46.69% and -47.41% over the past three months. ODT shares are trading -44.90% year to date (YTD), with the 12-month market performance down to -44.25% lower. It has a 12-month low price of $14.78 and touched a high of $46.50 over the same period. Currently, 2.58 million shares have been traded, compared to an average intraday trading volume of 193.21K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -45.67%, -51.55%, and -44.31% respectively.
Institutional ownership of Odonate Therapeutics Inc. (NASDAQ: ODT) shares accounts for 96.80% of the company’s 30.68M shares outstanding. Mutual fund holders own 65.98%, while other institutional holders and individual stakeholders account for 73.41% and 20.79% respectively.
It has a market capitalization of $476.68M. The earnings-per-share (ttm) stands at -$3.87. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.89% over the week and 7.62% over the month.
Analysts forecast that Odonate Therapeutics Inc. (ODT) will achieve an EPS of -$0.97 for the current quarter, -$0.99 for the next quarter and -$3.92 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.19 while analysts give the company a high EPS estimate of -$0.81. Comparatively, EPS for the current quarter was -$0.88 a year ago. Earnings per share for the fiscal year are expected to decrease by -11.30%, and 3.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Odonate Therapeutics Inc. (ODT) as a “Moderate Buy” at a consensus score of 2.20. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 1 rated it as a “Sell.”