UBS Group AG increased its position in shares of OBALON THERPTCS (NASDAQ:OBLN) by 90.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,856 shares of the company’s stock after buying an additional 5,641 shares during the period. UBS Group AG owned about 0.07% of OBALON THERPTCS worth $127,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in OBLN. Norges Bank bought a new stake in shares of OBALON THERPTCS during the fourth quarter worth $442,000. Macquarie Group Ltd. bought a new stake in shares of OBALON THERPTCS during the fourth quarter worth $222,000. Glen Harbor Capital Management LLC bought a new stake in shares of OBALON THERPTCS during the first quarter worth $427,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of OBALON THERPTCS during the first quarter worth $357,000. Finally, Emerald Advisers Inc. PA bought a new stake in shares of OBALON THERPTCS during the first quarter worth $108,000. 40.08% of the stock is currently owned by hedge funds and other institutional investors.
OBALON THERPTCS (OBLN) traded down 3.88% on Friday, reaching $8.91. 35,586 shares of the company were exchanged. The stock has a 50-day moving average price of $9.07 and a 200 day moving average price of $9.91. OBALON THERPTCS has a 52 week low of $7.98 and a 52 week high of $15.88. The stock’s market capitalization is $149.90 million.
OBALON THERPTCS (NASDAQ:OBLN) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by $0.03. The firm had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $1.77 million. OBALON THERPTCS had a negative net margin of 566.87% and a negative return on equity of 108.07%. Analysts forecast that OBALON THERPTCS will post ($1.86) earnings per share for the current year.
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A number of equities research analysts have recently weighed in on OBLN shares. Canaccord Genuity reissued a “buy” rating on shares of OBALON THERPTCS in a report on Monday, April 17th. Zacks Investment Research lowered shares of OBALON THERPTCS from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised shares of OBALON THERPTCS from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Northland Securities started coverage on shares of OBALON THERPTCS in a report on Wednesday, June 21st. They set an “under perform” rating and a $6.00 price objective on the stock. Finally, UBS AG reissued a “buy” rating and set a $20.00 price objective (down from $22.00) on shares of OBALON THERPTCS in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. OBALON THERPTCS currently has a consensus rating of “Hold” and a consensus target price of $15.17.
About OBALON THERPTCS
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.
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