Obsidian Therapeutics (NASDAQ:OBX) Sees Large Increase in Short Interest

Obsidian Therapeutics (NASDAQ:OBX) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 36,102 shares, a growth of ∞ from the July 30th total of 0 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 46,658 shares, the short-interest ratio is presently 0.8 days.

Obsidian Therapeutics Stock Down 4.3%

Shares of OBX stock traded down $0.74 during trading hours on Friday, hitting $16.30. 260,517 shares of the company were exchanged, compared to its average volume of 147,156. Obsidian Therapeutics has a one year low of $14.57 and a one year high of $49.97.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler started coverage on Obsidian Therapeutics in a report on Wednesday, August 5th. They issued an “overweight” rating and a $42.00 price target for the company. Zacks Research upgraded Obsidian Therapeutics to a “hold” rating in a research note on Thursday, August 6th. Lifesci Capital began coverage on shares of Obsidian Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating and a $43.00 price target on the stock. Finally, TD Cowen started coverage on shares of Obsidian Therapeutics in a report on Thursday, August 6th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Obsidian Therapeutics Company Profile

Obsidian Therapeutics is a biotechnology company focused on developing engineered cell and gene therapies for cancer and other serious diseases. The company’s approach is designed to improve the safety, control and effectiveness of therapeutic proteins and genetic medicines by enabling their activity to be regulated inside the body.

Obsidian’s technology platform, known as cytoDRiVE, uses small-molecule-controlled genetic systems to modulate the expression or activity of therapeutic proteins.