Obalon Therapeutics Inc (NASDAQ:OBLN) major shareholder Parters Vii L. P. Domain purchased 1,648,359 shares of Obalon Therapeutics stock in a transaction that occurred on Thursday, August 23rd. The shares were acquired at an average price of $1.82 per share, for a total transaction of $3,000,013.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of NASDAQ:OBLN opened at $2.70 on Thursday. Obalon Therapeutics Inc has a 1 year low of $1.46 and a 1 year high of $10.40. The company has a current ratio of 2.98, a quick ratio of 2.80 and a debt-to-equity ratio of 0.37. The stock has a market cap of $49.71 million, a P/E ratio of -1.30 and a beta of -2.81.
Obalon Therapeutics (NASDAQ:OBLN) last posted its earnings results on Thursday, August 2nd. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). Obalon Therapeutics had a negative return on equity of 72.76% and a negative net margin of 205.20%. The firm had revenue of $2.73 million for the quarter, compared to analysts’ expectations of $3.40 million. analysts expect that Obalon Therapeutics Inc will post -2.12 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the business. Deutsche Bank AG grew its holdings in shares of Obalon Therapeutics by 170.4% during the 4th quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock worth $138,000 after acquiring an additional 13,309 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Obalon Therapeutics by 288.4% during the 2nd quarter. Renaissance Technologies LLC now owns 56,700 shares of the company’s stock worth $122,000 after acquiring an additional 42,100 shares during the period. Finally, C WorldWide Group Holding A S grew its holdings in shares of Obalon Therapeutics by 27.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 315,790 shares of the company’s stock worth $679,000 after acquiring an additional 67,746 shares during the period. Hedge funds and other institutional investors own 31.17% of the company’s stock.
OBLN has been the topic of a number of research analyst reports. Northland Securities downgraded Obalon Therapeutics from a “market perform” rating to an “underperform” rating in a report on Friday, May 11th. Stifel Nicolaus reduced their price target on Obalon Therapeutics from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. ValuEngine upgraded Obalon Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $3.25 price target on the stock in a report on Tuesday. Finally, BTIG Research restated a “buy” rating on shares of Obalon Therapeutics in a report on Sunday, August 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Obalon Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $7.04.
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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