Obalon Therapeutics Inc (NASDAQ:OBLN) saw strong trading volume on Monday . 1,518,315 shares were traded during trading, an increase of 285% from the previous session’s volume of 394,012 shares.The stock last traded at $1.88 and had previously closed at $1.80.
Several equities analysts have issued reports on the company. Northland Securities reaffirmed a “hold” rating on shares of Obalon Therapeutics in a report on Wednesday, July 24th. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a report on Wednesday, October 9th. Finally, ValuEngine raised Obalon Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.90.
The company has a quick ratio of 1.48, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $1.92 and a 200-day simple moving average of $1.48. The company has a market cap of $10.03 million, a PE ratio of -0.10 and a beta of -4.86.
Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.02. The firm had revenue of $0.39 million during the quarter, compared to the consensus estimate of $1.82 million. Obalon Therapeutics had a negative net margin of 425.36% and a negative return on equity of 253.79%. Equities research analysts forecast that Obalon Therapeutics Inc will post -13.1 earnings per share for the current fiscal year.
In other news, major shareholder Interwest Partners X. Lp acquired 25,000 shares of Obalon Therapeutics stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $4.00 per share, for a total transaction of $100,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim P. Kamdar acquired 12,500 shares of Obalon Therapeutics stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $4.00 per share, with a total value of $50,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 45,000 shares of company stock valued at $180,000. 14.30% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in OBLN. Jane Street Group LLC acquired a new stake in Obalon Therapeutics in the second quarter valued at about $33,000. Hoylecohen LLC lifted its position in Obalon Therapeutics by 95.4% in the second quarter. Hoylecohen LLC now owns 204,850 shares of the company’s stock valued at $143,000 after purchasing an additional 100,000 shares during the period. Finally, Vanguard Group Inc. lifted its position in Obalon Therapeutics by 132.0% in the second quarter. Vanguard Group Inc. now owns 473,870 shares of the company’s stock valued at $331,000 after purchasing an additional 269,582 shares during the period. Hedge funds and other institutional investors own 91.76% of the company’s stock.
Obalon Therapeutics Company Profile (NASDAQ:OBLN)
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat people who are obese and overweight. The company 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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