Obalon Therapeutics Inc’s Quiet Period Set To Expire on November 15th (NASDAQ:OBLN)
Obalon Therapeutics’ (NASDAQ:OBLN) quiet period is set to expire on Tuesday, November 15th. Obalon Therapeutics had issued 5,000,000 shares in its public offering on October 6th. The total size of the offering was $75,000,000 based on an initial share price of $15.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several equities analysts have recently weighed in on OBLN shares. BTIG Research started coverage on Obalon Therapeutics in a report on Monday, October 31st. They set a “buy” rating and a $20.00 price target for the company. Canaccord Genuity started coverage on Obalon Therapeutics in a report on Monday, October 31st. They set a “buy” rating and a $28.00 price target for the company. Finally, Stifel Nicolaus started coverage on Obalon Therapeutics in a report on Monday, October 31st. They set a “buy” rating and a $18.00 price target for the company.
Shares of Obalon Therapeutics (NASDAQ:OBLN) opened at 10.17 on Friday. Obalon Therapeutics has a 52-week low of $8.27 and a 52-week high of $15.88. The company’s 50 day moving average price is $12.36 and its 200 day moving average price is $12.36. The stock’s market capitalization is $5.90 million.
In other Obalon Therapeutics news, Director Kim P. Kamdar acquired 13,400 shares of the company’s stock in a transaction that occurred on Wednesday, October 12th. The stock was bought at an average price of $15.00 per share, for a total transaction of $201,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
About Obalon Therapeutics
Obalon Therapeutics, Inc is a commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
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