ObsEva SA (NASDAQ:OBSV) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 937,300 shares, a drop of 41.4% from the March 15th total of 1,600,000 shares. Based on an average trading volume of 5,970,000 shares, the days-to-cover ratio is currently 0.2 days.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OBSV. State Street Corp purchased a new stake in shares of ObsEva in the third quarter worth $124,000. Morgan Stanley lifted its holdings in shares of ObsEva by 1,023.1% during the third quarter. Morgan Stanley now owns 477,467 shares of the company’s stock valued at $1,184,000 after purchasing an additional 434,953 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of ObsEva during the third quarter valued at $114,000. Jane Street Group LLC bought a new position in shares of ObsEva during the third quarter valued at $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of ObsEva by 39.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 356,215 shares of the company’s stock valued at $741,000 after purchasing an additional 100,220 shares in the last quarter. 52.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of OBSV traded down $0.06 during mid-day trading on Thursday, hitting $2.79. 843,775 shares of the company’s stock traded hands, compared to its average volume of 5,547,152. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 1.14. ObsEva has a 1 year low of $1.86 and a 1 year high of $6.30. The firm has a market capitalization of $160.57 million, a P/E ratio of -1.12 and a beta of 0.99. The business’s 50-day moving average price is $3.42 and its 200-day moving average price is $2.85.
Several equities research analysts recently weighed in on OBSV shares. Zacks Investment Research raised ObsEva from a “sell” rating to a “hold” rating in a report on Tuesday, January 12th. HC Wainwright decreased their price objective on ObsEva from $23.00 to $17.00 and set a “buy” rating for the company in a report on Monday, January 4th. Wedbush reaffirmed a “buy” rating and set a $28.00 target price on shares of ObsEva in a report on Tuesday, January 12th. Finally, SVB Leerink lifted their target price on ObsEva from $4.00 to $5.00 and gave the company an “outperform” rating in a report on Tuesday, January 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. ObsEva currently has a consensus rating of “Hold” and an average price target of $10.21.
ObsEva SA, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for women suffering from reproductive health and pregnancy. The company is developing Linzagolix, an oral gonadotropin-releasing hormone receptor antagonist for the treatment of pain associated with endometriosis and heavy menstrual bleeding associated with uterine fibroids in pre-menopausal women.
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