Obsidian Therapeutics (NASDAQ:OBX) Issues Quarterly Earnings Results

Obsidian Therapeutics (NASDAQ:OBX) posted its earnings results on Thursday. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.80), FiscalAI reports.

Obsidian Therapeutics Trading Down 3.1%

Shares of NASDAQ OBX traded down $0.40 during trading on Thursday, reaching $12.48. The stock had a trading volume of 328,740 shares, compared to its average volume of 539,342. Obsidian Therapeutics has a fifty-two week low of $9.60 and a fifty-two week high of $49.97. The stock has a 50-day moving average price of $14.37.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Obsidian Therapeutics in a research report on Wednesday, August 5th. They set an “overweight” rating and a $42.00 price objective for the company. Wall Street Zen upgraded shares of Obsidian Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, October 25th. Leerink Partners initiated coverage on shares of Obsidian Therapeutics in a research note on Tuesday, September 22nd. They set an “outperform” rating and a $32.00 target price for the company. William Blair upgraded shares of Obsidian Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, Weiss Ratings began coverage on shares of Obsidian Therapeutics in a research report on Wednesday, September 2nd. They set a “sell (d-)” rating for the company. One research 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

About Obsidian Therapeutics

Obsidian Therapeutics is a biotechnology company developing engineered cell therapies for cancer. Its research focuses on modifying immune cells to improve their ability to target tumors and function within the body. The company’s programs include OBX-115, an engineered tumor-infiltrating lymphocyte (TIL) therapy being developed for solid tumors. Obsidian’s cytoDRiVE platform is designed to regulate the activity of therapeutic proteins using small molecules, with the aim of controlling and optimizing cell therapies.