Piper Sandler Begins Coverage on Obsidian Therapeutics (NASDAQ:OBX)

Investment analysts at Piper Sandler assumed coverage on shares of Obsidian Therapeutics (NASDAQ:OBX) in a report issued on Wednesday,Benzinga reports. The brokerage set an “overweight” rating and a $42.00 price target on the stock. Piper Sandler’s price objective would suggest a potential upside of 23.53% from the company’s current price.

Obsidian Therapeutics Price Performance

Shares of NASDAQ:OBX traded up $15.01 on Wednesday, reaching $34.00. The company’s stock had a trading volume of 13,400 shares.

Obsidian Therapeutics is a biotechnology company focused on developing engineered cell and gene therapies for cancer and other serious diseases. The company’s approach is designed to improve the safety, control and effectiveness of therapeutic proteins and genetic medicines by enabling their activity to be regulated inside the body.

Obsidian’s technology platform, known as cytoDRiVE, uses small-molecule-controlled genetic systems to modulate the expression or activity of therapeutic proteins.