Obalon Therptcs (OBLN) Position Boosted by C WorldWide Group Holding A S
C WorldWide Group Holding A S lifted its position in Obalon Therptcs (NASDAQ:OBLN) by 13.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 276,211 shares of the company’s stock after purchasing an additional 33,318 shares during the quarter. C WorldWide Group Holding A S owned 1.58% of Obalon Therptcs worth $2,632,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG boosted its holdings in shares of Obalon Therptcs by 90.8% in the 1st quarter. UBS Group AG now owns 11,856 shares of the company’s stock worth $127,000 after purchasing an additional 5,641 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Obalon Therptcs in the 2nd quarter worth about $134,000. California State Teachers Retirement System boosted its holdings in shares of Obalon Therptcs by 53.5% in the 2nd quarter. California State Teachers Retirement System now owns 15,200 shares of the company’s stock worth $151,000 after purchasing an additional 5,300 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Obalon Therptcs in the 1st quarter worth about $168,000. Finally, Schwab Charles Investment Management Inc. purchased a new position in shares of Obalon Therptcs in the 2nd quarter worth about $175,000. Hedge funds and other institutional investors own 43.65% of the company’s stock.
A number of equities analysts have recently issued reports on OBLN shares. Northland Securities reiterated a “sell” rating and issued a $4.00 price objective on shares of Obalon Therptcs in a report on Friday, November 3rd. Zacks Investment Research cut Obalon Therptcs from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BTIG Research cut their price objective on Obalon Therptcs from $20.00 to $15.00 and set a “buy” rating for the company in a report on Monday, November 6th. Finally, UBS AG reiterated a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of Obalon Therptcs in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.00.
Obalon Therptcs (OBLN) traded down $0.18 during midday trading on Monday, hitting $8.04. The stock had a trading volume of 30,700 shares, compared to its average volume of 51,570. Obalon Therptcs has a 12 month low of $7.77 and a 12 month high of $13.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 8.78 and a quick ratio of 8.65.
Obalon Therptcs (NASDAQ:OBLN) last released its earnings results on Friday, November 3rd. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). Obalon Therptcs had a negative net margin of 459.54% and a negative return on equity of 59.77%. The company had revenue of $2.79 million during the quarter, compared to the consensus estimate of $2.95 million. equities research analysts forecast that Obalon Therptcs will post -1.96 earnings per share for the current year.
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Obalon Therptcs 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.
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