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

In related news, major shareholder Interwest Partners X. Lp acquired 25,000 shares of Obalon Therapeutics stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $4.00 per share, with a total value of $100,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kim P. Kamdar acquired 12,500 shares of Obalon Therapeutics stock in a transaction on Tuesday, August 6th. The shares were bought 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. Insiders bought 45,000 shares of company stock worth $180,000 over the last ninety days. Insiders own 14.30% of the company’s stock.

Large investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Obalon Therapeutics in the second quarter worth approximately $33,000. Geode Capital Management LLC bought a new position in Obalon Therapeutics in the fourth quarter worth approximately $137,000. Hoylecohen LLC raised its stake in Obalon Therapeutics by 95.4% in the second quarter. Hoylecohen LLC now owns 204,850 shares of the company’s stock worth $143,000 after buying an additional 100,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Obalon Therapeutics by 132.0% in the second quarter. Vanguard Group Inc. now owns 473,870 shares of the company’s stock worth $331,000 after buying an additional 269,582 shares in the last quarter. 91.76% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on OBLN shares. Zacks Investment Research raised Obalon Therapeutics from a “hold” rating to a “strong-buy” rating and set a $2.00 price objective on the stock in a research note on Thursday. Northland Securities restated a “hold” rating on shares of Obalon Therapeutics in a research report on Wednesday, July 24th. Finally, ValuEngine upgraded Obalon Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $16.90.

Shares of NASDAQ OBLN traded down $0.05 during trading hours on Friday, reaching $2.16. The stock had a trading volume of 761,700 shares, compared to its average volume of 349,007. The company has a current ratio of 1.69, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. The firm has a market cap of $9.64 million, a price-to-earnings ratio of -0.11 and a beta of -4.86. The business’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $1.44. Obalon Therapeutics has a 52-week low of $1.64 and a 52-week high of $34.00.

Obalon Therapeutics (NASDAQ:OBLN) last announced its quarterly earnings results on Wednesday, July 24th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $0.39 million during the quarter, compared to analyst estimates of $1.82 million. Obalon Therapeutics had a negative return on equity of 253.79% and a negative net margin of 425.36%. Equities research analysts anticipate that Obalon Therapeutics will post -13.1 earnings per share for the current fiscal year.

Obalon Therapeutics Company Profile

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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