C WorldWide Group Holding A S Boosts Stake in OBALON THERPTCS (NASDAQ:OBLN)
C WorldWide Group Holding A S increased its position in OBALON THERPTCS (NASDAQ:OBLN) by 22.8% during the second quarter, Holdings Channel reports. The fund owned 242,893 shares of the company’s stock after buying an additional 45,088 shares during the period. C WorldWide Group Holding A S’s holdings in OBALON THERPTCS were worth $2,407,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Emerald Advisers Inc. PA bought a new stake in shares of OBALON THERPTCS during the first quarter worth $108,000. UBS Group AG boosted its stake in shares of OBALON THERPTCS by 90.8% in the first quarter. UBS Group AG now owns 11,856 shares of the company’s stock worth $127,000 after buying an additional 5,641 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of OBALON THERPTCS during the first quarter worth $168,000. Schwab Charles Investment Management Inc. bought a new stake in shares of OBALON THERPTCS during the second quarter worth $175,000. Finally, Macquarie Group Ltd. bought a new stake in shares of OBALON THERPTCS during the fourth quarter worth $222,000. Institutional investors and hedge funds own 40.08% of the company’s stock.
OBALON THERPTCS (OBLN) opened at 8.91 on Friday. OBALON THERPTCS has a one year low of $7.98 and a one year high of $15.88. The company has a 50-day moving average price of $9.07 and a 200-day moving average price of $9.91. The company’s market capitalization is $149.90 million.
OBALON THERPTCS (NASDAQ:OBLN) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.03. OBALON THERPTCS had a negative net margin of 566.87% and a negative return on equity of 108.07%. The firm had revenue of $1.96 million during the quarter, compared to the consensus estimate of $1.77 million. Equities research analysts anticipate that OBALON THERPTCS will post ($1.86) EPS for the current year.
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A number of analysts have recently weighed in on OBLN shares. UBS AG reiterated a “buy” rating and set a $20.00 price target (down from $22.00) on shares of OBALON THERPTCS in a research report on Thursday, August 3rd. Canaccord Genuity reissued a “buy” rating on shares of OBALON THERPTCS in a report on Monday, April 17th. Zacks Investment Research lowered OBALON THERPTCS from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. ValuEngine raised OBALON THERPTCS from a “strong sell” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Northland Securities reissued a “sell” rating and issued a $6.00 price objective on shares of OBALON THERPTCS in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $15.17.
OBALON THERPTCS Company 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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