Obsidian Therapeutics (NASDAQ:OBX) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Obsidian Therapeutics (NASDAQ:OBX) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently commented on OBX. TD Cowen initiated coverage on shares of Obsidian Therapeutics in a research report on Thursday, August 6th. They set a “buy” rating on the stock. Weiss Ratings assumed coverage on shares of Obsidian Therapeutics in a research note on Wednesday, September 2nd. They set a “sell (d-)” rating on the stock. Piper Sandler assumed coverage on shares of Obsidian Therapeutics in a report on Wednesday, August 5th. They issued an “overweight” rating and a $42.00 price objective for the company. Zacks Research upgraded shares of Obsidian Therapeutics to a “hold” rating in a report on Thursday, August 6th. Finally, Leerink Partners initiated coverage on shares of Obsidian Therapeutics in a research note on Tuesday, September 22nd. They issued an “outperform” rating and a $32.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Obsidian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Obsidian Therapeutics Stock Performance

Shares of NASDAQ OBX opened at $11.94 on Friday. The firm’s 50-day moving average price is $16.59. Obsidian Therapeutics has a 1-year low of $11.52 and a 1-year high of $49.97.

About Obsidian Therapeutics

Obsidian Therapeutics is a biotechnology company focused on developing engineered cell and gene therapies for serious diseases. Its research centers on technologies designed to control the activity, timing and location of therapeutic proteins within engineered cells.

The company’s CytoDRiVE platform is intended to enable small-molecule regulation of protein expression, which may help improve the safety and effectiveness of cell therapies. Obsidian has applied this technology to immune-cell therapies, including programs designed to support the treatment of solid tumors, as well as to other therapeutic protein and gene-modulation applications.

Obsidian Therapeutics is based in the United States and has operated as a privately held biotechnology company, according to available company information.