UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Orchestra BioMed Holdings, Inc. $OBIO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the 2nd quarter, Holdings Channel reports. The fund acquired 642,154 shares of the company’s stock, valued at approximately $2,771,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE acquired a new position in Orchestra BioMed during the 2nd quarter worth approximately $103,000. Flat Footed LLC bought a new stake in shares of Orchestra BioMed in the second quarter worth $1,084,670. Canada Pension Plan Investment Board acquired a new position in Orchestra BioMed during the second quarter worth $91,000. Algert Global LLC boosted its holdings in Orchestra BioMed by 94.4% during the second quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after purchasing an additional 13,830 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Orchestra BioMed in the second quarter valued at $10,832,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Insider Buying and Selling

In other news, insider David P. Hochman acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average price of $4.79 per share, with a total value of $47,900.00. Following the completion of the transaction, the insider directly owned 1,070,746 shares of the company’s stock, valued at $5,128,873.34. This trade represents a 0.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00. Following the sale, the insider owned 1,134,402 shares in the company, valued at $5,603,945.88. This represents a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 7.50% of the stock is currently owned by insiders.

Orchestra BioMed Stock Up 6.6%

Orchestra BioMed stock opened at $5.81 on Friday. The stock has a market cap of $349.18 million, a P/E ratio of -6.84 and a beta of 0.54. The company’s 50-day moving average price is $4.46 and its two-hundred day moving average price is $4.29. 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 twelve month low of $2.20 and a twelve month high of $6.08.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, analysts expect that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current year.

Analyst Ratings Changes

OBIO has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. B. Riley Financial reduced their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. Finally, Piper Sandler reaffirmed 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 and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Orchestra BioMed 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.