Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Short Interest Update

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 957,939 shares, a growth of 20.6% from the March 15th total of 794,502 shares. Based on an average daily trading volume, of 239,186 shares, the short-interest ratio is presently 4.0 days. Currently, 1.8% of the company’s stock are sold short.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a report on Saturday, March 14th. Barclays raised their price target on shares of Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Orchestra BioMed in a report on Thursday, April 2nd. Finally, Chardan Capital restated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.25.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock opened at $4.58 on Friday. The firm has a market capitalization of $268.02 million, a P/E ratio of -4.05 and a beta of 0.60. The company has a quick ratio of 6.43, a current ratio of 6.45 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average price of $4.31 and a 200 day moving average price of $4.16. Orchestra BioMed has a 52 week low of $2.20 and a 52 week high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.38) by $0.64. The firm had revenue of $30.92 million during the quarter, compared to analyst estimates of $0.93 million. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%. Sell-side analysts expect that Orchestra BioMed will post -1.66 EPS for the current year.

Insider Buying and Selling at Orchestra BioMed

In other news, insider David P. Hochman purchased 10,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the insider owned 1,086,467 shares of the company’s stock, valued at approximately $4,660,943.43. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of OBIO. Bank of America Corp DE raised its position in shares of Orchestra BioMed by 42.0% in the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after purchasing an additional 7,036 shares during the last quarter. Creative Planning purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at approximately $40,000. XTX Topco Ltd purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at approximately $45,000. Marshall Wace LLP purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at approximately $133,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at approximately $118,000. 53.20% of the stock is owned by hedge funds and other institutional investors.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.