Emerald Advisers Inc. PA continued to hold its stake in Obalon Therptcs (NASDAQ:OBLN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,072 shares of the company’s stock at the end of the second quarter. Emerald Advisers Inc. PA owned 0.06% of Obalon Therptcs worth $100,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of OBLN. Emerald Mutual Fund Advisers Trust acquired a new stake in Obalon Therptcs during the first quarter valued at about $357,000. Nicholas Investment Partners LP acquired a new stake in Obalon Therptcs during the first quarter valued at about $626,000. Macquarie Group Ltd. acquired a new stake in Obalon Therptcs during the fourth quarter valued at about $222,000. Norges Bank acquired a new stake in Obalon Therptcs during the fourth quarter valued at about $442,000. Finally, Formula Growth Ltd. boosted its stake in Obalon Therptcs by 45.3% in the first quarter. Formula Growth Ltd. now owns 108,998 shares of the company’s stock valued at $1,165,000 after buying an additional 34,000 shares during the period. 41.65% of the stock is owned by institutional investors.
Shares of Obalon Therptcs (OBLN) traded down 2.86% during midday trading on Friday, hitting $8.84. The stock had a trading volume of 15,290 shares. The stock has a 50-day moving average price of $8.85 and a 200-day moving average price of $9.86. Obalon Therptcs has a 12-month low of $7.98 and a 12-month high of $15.88. The stock’s market cap is $148.72 million.
Obalon Therptcs (NASDAQ:OBLN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.96 million during the quarter, compared to analyst estimates of $1.77 million. Equities analysts forecast that Obalon Therptcs will post ($1.86) earnings per share for the current year.
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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Obalon Therptcs from a “sell” rating to a “hold” rating in a research note on Wednesday. UBS AG reaffirmed a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of Obalon Therptcs in a research note on Wednesday, August 9th. Northland Securities reaffirmed a “sell” rating and issued a $6.00 price objective on shares of Obalon Therptcs in a research note on Wednesday, August 2nd. ValuEngine raised Obalon Therptcs from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Obalon Therptcs in a research note on Thursday, May 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $15.17.
About Obalon Therptcs
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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