Obalon Therapeutics Inc (NASDAQ:OBLN) Short Interest Update

Obalon Therapeutics Inc (NASDAQ:OBLN) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 39,600 shares, a drop of 88.6% from the July 31st total of 347,800 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 635,900 shares, the days-to-cover ratio is presently 0.1 days.

Shares of OBLN traded down $0.05 on Friday, reaching $2.16. The company’s stock had a trading volume of 761,700 shares, compared to its average volume of 349,007. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 1.48. The stock has a market capitalization of $9.64 million, a P/E ratio of -0.11 and a beta of -4.86. The stock’s 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $1.44. Obalon Therapeutics has a 12-month low of $1.64 and a 12-month high of $34.00.

Obalon Therapeutics (NASDAQ:OBLN) last posted its quarterly earnings data on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Obalon Therapeutics had a negative net margin of 425.36% and a negative return on equity of 253.79%. The company had revenue of $0.39 million for the quarter, compared to the consensus estimate of $1.82 million. Analysts expect that Obalon Therapeutics will post -13.1 earnings per share for the current year.

OBLN has been the topic of a number of research reports. Zacks Investment Research raised shares of Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective on the stock in a report on Thursday. Northland Securities reissued a “hold” rating on shares of Obalon Therapeutics in a report on Wednesday, July 24th. Finally, ValuEngine raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $16.90.

In other Obalon Therapeutics news, major shareholder Interwest Partners X. Lp acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $4.00 per share, with a total value of $100,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim P. Kamdar acquired 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $4.00 per share, for a total transaction of $50,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 45,000 shares of company stock worth $180,000. Insiders own 14.30% of the company’s stock.

A number of large investors have recently modified their holdings of OBLN. Jane Street Group LLC purchased a new position in Obalon Therapeutics during the second quarter valued at approximately $33,000. Geode Capital Management LLC purchased a new position in Obalon Therapeutics during the fourth quarter valued at approximately $137,000. Hoylecohen LLC lifted its holdings in Obalon Therapeutics by 95.4% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Obalon Therapeutics by 132.0% during 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 in the last quarter. 91.76% of the stock is currently owned by institutional investors and hedge funds.

About Obalon Therapeutics

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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