Obsidian Therapeutics (NASDAQ:OBX) Shares Shorted: Short Interest Up 249.5% in September

Key Points

• Short interest surged 249.5% in September to 884,528 shares, representing 1.4% of shares outstanding and a days-to-cover ratio of 0.9.
• OBX shares traded at $13.00, near the lower end of their $12.07–$49.97 52-week range and below the 50-day moving average of $18.25.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $39.00, despite the increased short interest.

Obsidian Therapeutics (NASDAQ:OBX - Get Free Report) saw 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. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 1,019,181 shares, the days-to-cover ratio is presently 0.9 days.

Obsidian Therapeutics Price Performance

Shares of OBX traded up $0.76 during mid-day trading on Friday, reaching $13.00. 532,198 shares of the stock traded hands, compared to its average volume of 727,398. Obsidian Therapeutics has a 1 year low of $12.07 and a 1 year high of $49.97. The business has a fifty day simple moving average of $18.25.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OBX. Wall Street Zen raised Obsidian Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, September 27th. Zacks Research upgraded Obsidian Therapeutics to a "hold" rating in a research report on Thursday, August 6th. Lifesci Capital assumed coverage on Obsidian Therapeutics in a research report on Tuesday, August 18th. They set an "outperform" rating and a $43.00 price target on the stock. Leerink Partners began coverage on shares of Obsidian Therapeutics in a report on Tuesday, September 22nd. They issued an "outperform" rating and a $32.00 price target on the stock. Finally, Piper Sandler initiated coverage on shares of Obsidian Therapeutics in a research report on Wednesday, August 5th. They issued an "overweight" rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $39.00.

Obsidian Therapeutics Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.