Obalon Therapeutics (NASDAQ:OBLN) Stock Price Down 8.7%


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Obalon Therapeutics, Inc. (NASDAQ:OBLN) fell 8.7% during mid-day trading on Tuesday . The stock traded as low as $3.58 and last traded at $3.97. 1,203,953 shares changed hands during trading, a decline of 93% from the average session volume of 16,547,965 shares. The stock had previously closed at $4.35.

Separately, Alliance Global Partners upgraded shares of Obalon Therapeutics from a “neutral” rating to a “buy” rating in a report on Thursday, February 18th.

The firm’s fifty day moving average price is $3.72 and its 200 day moving average price is $1.69. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $30.85 million, a price-to-earnings ratio of -1.90 and a beta of -0.69.

Hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of Obalon Therapeutics by 44,715.0% in the 3rd quarter. Morgan Stanley now owns 700,010 shares of the company’s stock worth $637,000 after acquiring an additional 698,448 shares during the last quarter. Armistice Capital LLC lifted its holdings in shares of Obalon Therapeutics by 48.6% in the 4th quarter. Armistice Capital LLC now owns 1,100,000 shares of the company’s stock worth $1,650,000 after acquiring an additional 360,000 shares during the last quarter. Finally, HighPoint Advisor Group LLC acquired a new position in shares of Obalon Therapeutics in the 4th quarter worth approximately $205,000. Hedge funds and other institutional investors own 28.00% of the company’s stock.

Obalon Therapeutics Company Profile (NASDAQ:OBLN)

Obalon Therapeutics, Inc focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. Its product includes medical balloon technology for weight loss therapy which consists of a capsule containing a balloon that is swallowed and then remotely inflated.

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