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

Odyssey Therapeutics, Inc. (NASDAQ:ODTX) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 514,441 shares, a growth of 494.7% from the May 14th total of 86,503 shares. Based on an average daily volume of 335,136 shares, the short-interest ratio is presently 1.5 days. Approximately 1.1% of the shares of the stock are sold short.

Insider Activity

In related news, major shareholder Tpg Gp A, Llc acquired 1,388,889 shares of the business’s 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 $25,000,002.00. Following the transaction, the insider directly owned 3,690,146 shares of the company’s stock, valued at approximately $66,422,628. This trade represents a 60.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dimension Capital Ii, L.P. acquired 1,111,111 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $18.00 per share, with a total value of $19,999,998.00. Following the completion of the transaction, the director directly owned 3,333,516 shares in the company, valued at approximately $60,003,288. The trade was a 50.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 4,183,777 shares of company stock worth $75,319,986.

Odyssey Therapeutics Stock Up 3.3%

ODTX stock traded up $0.56 during midday trading on Wednesday, hitting $17.65. The stock had a trading volume of 31,348 shares, compared to its average volume of 311,274. Odyssey Therapeutics has a 12-month low of $15.35 and a 12-month high of $20.30.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research raised shares of Odyssey Therapeutics to a “hold” rating in a research note on Wednesday, June 3rd. Wedbush assumed coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $26.00 target price for the company. TD Cowen assumed coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued a “buy” rating for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Odyssey Therapeutics in a research note on Tuesday, June 2nd. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Odyssey Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.