Obalon Therapeutics Inc. (NASDAQ:OBLN) CFO William J. Plovanic bought 30,000 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were acquired at an average price of $4.04 per share, with a total value of $121,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of NASDAQ OBLN traded up $0.01 during midday trading on Friday, reaching $3.52. 20,521 shares of the stock were exchanged, compared to its average volume of 55,682. Obalon Therapeutics Inc. has a 52-week low of $3.17 and a 52-week high of $13.18. The company has a current ratio of 5.17, a quick ratio of 5.03 and a debt-to-equity ratio of 0.23.
Obalon Therapeutics (NASDAQ:OBLN) last issued its quarterly earnings results on Monday, March 5th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.12). The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.88 million. Obalon Therapeutics had a negative return on equity of 74.80% and a negative net margin of 350.67%. analysts expect that Obalon Therapeutics Inc. will post -2 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of OBLN. Goldman Sachs Group Inc. purchased a new stake in shares of Obalon Therapeutics during the fourth quarter worth about $1,571,000. Granite Investment Partners LLC acquired a new stake in shares of Obalon Therapeutics in the third quarter worth approximately $1,036,000. Tamarack Advisers LP boosted its position in shares of Obalon Therapeutics by 10.3% in the fourth quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock worth $3,993,000 after acquiring an additional 56,500 shares during the last quarter. Northern Trust Corp boosted its position in shares of Obalon Therapeutics by 109.8% in the second quarter. Northern Trust Corp now owns 92,237 shares of the company’s stock worth $914,000 after acquiring an additional 48,268 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Obalon Therapeutics by 66.1% in the second quarter. State Street Corp now owns 71,242 shares of the company’s stock worth $705,000 after acquiring an additional 28,356 shares during the last quarter. Institutional investors and hedge funds own 42.65% of the company’s stock.
Several equities analysts have weighed in on OBLN shares. Zacks Investment Research downgraded shares of Obalon Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Canaccord Genuity restated a “buy” rating and set a $11.00 target price (down from $15.00) on shares of Obalon Therapeutics in a report on Monday, January 22nd. They noted that the move was a valuation call. Northland Securities restated a “sell” rating and set a $4.00 target price on shares of Obalon Therapeutics in a report on Tuesday, January 23rd. BTIG Research dropped their target price on shares of Obalon Therapeutics to $7.00 and set a “buy” rating for the company in a report on Tuesday, March 6th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Obalon Therapeutics in a report on Tuesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.40.
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Obalon Therapeutics Company Profile
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.
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