Emerald Mutual Fund Advisers Trust Continues to Hold Stake in OBALON THERPTCS (NASDAQ:OBLN)

Emerald Mutual Fund Advisers Trust continued to hold its position in shares of OBALON THERPTCS (NASDAQ:OBLN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,353 shares of the company’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust owned 0.20% of OBALON THERPTCS worth $331,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OBLN. Massachusetts Financial Services Co. MA boosted its stake in OBALON THERPTCS by 15.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 625,729 shares of the company’s stock worth $6,689,000 after buying an additional 85,594 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in OBALON THERPTCS by 0.5% in the second quarter. Kornitzer Capital Management Inc. KS now owns 422,410 shares of the company’s stock valued at $4,186,000 after buying an additional 2,075 shares during the period. C WorldWide Group Holding A S boosted its stake in OBALON THERPTCS by 97.8% in the first quarter. C WorldWide Group Holding A S now owns 197,805 shares of the company’s stock valued at $2,115,000 after buying an additional 97,805 shares during the period. William Blair Investment Management LLC purchased a new stake in OBALON THERPTCS during the first quarter valued at approximately $1,311,000. Finally, Formula Growth Ltd. boosted its stake in OBALON THERPTCS by 45.3% in the first quarter. Formula Growth Ltd. now owns 108,998 shares of the company’s stock valued at $1,165,000 after buying an additional 34,000 shares during the period. 40.08% of the stock is owned by hedge funds and other institutional investors.

Shares of OBALON THERPTCS (NASDAQ OBLN) traded down 3.88% during trading on Friday, reaching $8.91. The company’s stock had a trading volume of 35,586 shares. The firm’s market cap is $149.90 million. OBALON THERPTCS has a 12 month low of $7.98 and a 12 month high of $15.88. The stock’s 50 day moving average price is $9.07 and its 200-day moving average price is $9.91.

OBALON THERPTCS (NASDAQ:OBLN) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. The company had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $1.77 million. OBALON THERPTCS had a negative return on equity of 108.07% and a negative net margin of 566.87%. Equities analysts predict that OBALON THERPTCS will post ($1.86) EPS for the current year.

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Several equities research analysts have recently commented on OBLN shares. ValuEngine upgraded OBALON THERPTCS from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd. Zacks Investment Research lowered OBALON THERPTCS from a “hold” rating to a “sell” rating in a report on Tuesday. Canaccord Genuity reiterated a “buy” rating on shares of OBALON THERPTCS in a report on Monday, April 17th. Northland Securities began coverage on OBALON THERPTCS in a report on Wednesday, June 21st. They set an “under perform” rating and a $6.00 target price on the stock. Finally, UBS AG reiterated a “buy” rating and set a $20.00 target price (down from $22.00) on shares of OBALON THERPTCS in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. OBALON THERPTCS presently has an average rating of “Hold” and a consensus price target of $15.17.

OBALON THERPTCS Company Profile

Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.

Institutional Ownership by Quarter for OBALON THERPTCS (NASDAQ:OBLN)

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