Y Intercept Hong Kong Ltd Buys New Position in Orchestra BioMed Holdings, Inc. $OBIO

Y Intercept Hong Kong Ltd bought a new stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) during the second quarter, Holdings Channel.com reports. The fund bought 45,447 shares of the company’s stock, valued at approximately $122,000.

Several other institutional investors also recently added to or reduced their stakes in OBIO. IFP Advisors Inc boosted its position in shares of Orchestra BioMed by 106.4% in the first quarter. IFP Advisors Inc now owns 161,921 shares of the company’s stock valued at $693,000 after acquiring an additional 83,481 shares during the period. Nuveen LLC acquired a new stake in shares of Orchestra BioMed in the first quarter worth $179,000. Bank of America Corp DE increased its position in Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after acquiring an additional 7,036 shares during the period. Finally, Deutsche Bank AG raised its stake in Orchestra BioMed by 67.3% during the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company’s stock valued at $87,000 after purchasing an additional 8,134 shares during the last quarter. 53.20% of the stock is owned by institutional investors.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock opened at $3.81 on Monday. The firm has a market cap of $147.23 million, a P/E ratio of -2.08 and a beta of 0.65. The firm’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $2.96. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $6.50. The company has a debt-to-equity ratio of 48.76, a quick ratio of 2.09 and a current ratio of 2.10.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. The firm had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. As a group, research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on OBIO. BTIG Research restated a “neutral” rating on shares of Orchestra BioMed in a research report on Wednesday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Wednesday, October 8th. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, August 13th. Finally, HC Wainwright reduced their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.50.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.