Obsidian Therapeutics (NASDAQ:OBX) Issues Quarterly Earnings Results

Obsidian Therapeutics (NASDAQ:OBX) released its quarterly earnings data on Thursday. The company reported ($1.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.80), FiscalAI reports.

Obsidian Therapeutics Trading Up 0.4%

Shares of OBX traded up $0.04 during mid-day trading on Friday, reaching $12.52. 146,509 shares of the company’s stock were exchanged, compared to its average volume of 449,129. The stock’s fifty day simple moving average is $14.37. Obsidian Therapeutics has a 52-week low of $9.60 and a 52-week high of $49.97.

Analyst Upgrades and Downgrades

OBX has been the subject of several research analyst reports. Piper Sandler assumed coverage on shares of Obsidian Therapeutics in a report on Wednesday, August 5th. They issued an “overweight” rating and a $42.00 target price for the company. Lifesci Capital initiated coverage on shares of Obsidian Therapeutics in a research note on Tuesday, August 18th. They set an “outperform” rating and a $43.00 price target on the stock. William Blair raised shares of Obsidian Therapeutics to a “strong-buy” rating in a research report on Wednesday, September 23rd. TD Cowen began coverage on shares of Obsidian Therapeutics in a research note on Thursday, August 6th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of Obsidian Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, October 25th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Obsidian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Obsidian Therapeutics Company Profile

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.