Short Interest in Odyssey Therapeutics, Inc. (NASDAQ:ODTX) Rises By 161.1%

Odyssey Therapeutics, Inc. (NASDAQ:ODTX) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 1,343,395 shares, a growth of 161.1% from the May 31st total of 514,441 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 282,980 shares, the short-interest ratio is currently 4.7 days.

Insider Activity at Odyssey Therapeutics

In other news, Director Shelley Chu acquired 11,111 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $199,998.00. Following the completion of the transaction, the director directly owned 11,111 shares in the company, valued at $199,998. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Sr One Capital Management, Llc sold 1,780 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $18.00, for a total value of $32,040.00. Following the sale, the insider directly owned 440,981 shares of the company’s stock, valued at $7,937,658. This represents a 0.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have purchased a total of 4,183,777 shares of company stock valued at $75,319,986 over the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wedbush started coverage on shares of Odyssey Therapeutics in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $30.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $40.00 price objective on shares of Odyssey Therapeutics in a report on Thursday, June 18th. Cantor Fitzgerald started coverage on shares of Odyssey Therapeutics in a report on Tuesday, June 2nd. They set an “overweight” rating for the company. JPMorgan Chase & Co. initiated coverage on shares of Odyssey Therapeutics in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $26.00 target price for the company. Finally, Wall Street Zen downgraded Odyssey Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Odyssey Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Odyssey Therapeutics Stock Performance

Shares of Odyssey Therapeutics stock traded down $0.46 during trading on Tuesday, hitting $18.43. 242,141 shares of the company were exchanged, compared to its average volume of 362,185. Odyssey Therapeutics has a 1-year low of $15.35 and a 1-year high of $20.30.

Odyssey Therapeutics (NASDAQ:ODTX) last announced its quarterly earnings results on Wednesday, June 17th. The company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.31) by $1,000.31.