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

Obsidian Therapeutics (NASDAQ:OBX) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 884,528 shares, an increase of 249.5% from the September 15th total of 253,084 shares. Based on an average daily volume of 1,019,181 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.4% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Obsidian Therapeutics to a “hold” rating in a report on Thursday, August 6th. William Blair raised shares of Obsidian Therapeutics to a “strong-buy” rating in a research note on Wednesday, September 23rd. Wall Street Zen raised shares of Obsidian Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Weiss Ratings began coverage on shares of Obsidian Therapeutics in a research report on Wednesday, September 2nd. They set a “sell (d-)” rating on the stock. Finally, Lifesci Capital started coverage on shares of Obsidian Therapeutics in a research report on Tuesday, August 18th. They set an “outperform” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Obsidian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $39.00.

Obsidian Therapeutics Stock Down 1.6%

OBX stock traded down $0.20 during trading hours on Tuesday, hitting $12.59. 40,697 shares of the stock traded hands, compared to its average volume of 417,066. The firm has a 50-day moving average of $18.14. Obsidian Therapeutics has a one year low of $12.07 and a one 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.