Rice Hall James & Associates LLC Invests $1.83 Million in Orchestra BioMed Holdings, Inc. $OBIO

Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 424,000 shares of the company’s stock, valued at approximately $1,830,000.

Several other institutional investors have also bought and sold shares of the stock. China Universal Asset Management Co. Ltd. bought a new stake in Orchestra BioMed in the fourth quarter valued at $38,000. Creative Planning bought a new position in shares of Orchestra BioMed during the second quarter valued at $40,000. XTX Topco Ltd acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $45,000. Jane Street Group LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth about $50,000. Finally, Virtu Financial LLC acquired a new stake in shares of Orchestra BioMed during the 4th quarter worth about $57,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $5.66 on Wednesday. The stock has a 50-day simple moving average of $4.07 and a 200 day simple moving average of $4.13. The stock has a market capitalization of $340.17 million, a price-to-earnings ratio of -6.66 and a beta of 0.50. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. Orchestra BioMed Holdings, Inc. has a 12-month low of $2.20 and a 12-month high of $5.77.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. On average, research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Orchestra BioMed

In other news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $4.09, for a total transaction of $61,350.00. Following the transaction, the insider directly owned 1,154,327 shares in the company, valued at approximately $4,721,197.43. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on OBIO shares. Barclays boosted their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a research note on Thursday, May 14th. B. Riley Financial reduced their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Wall Street Zen downgraded Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Piper Sandler restated an “overweight” rating and set a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Orchestra BioMed Company Profile

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.