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

Obsidian Therapeutics (NASDAQ:OBX) 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.