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

Rice Hall James & Associates LLC purchased a new stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 424,000 shares of the company’s stock, valued at approximately $1,830,000. Rice Hall James & Associates LLC owned 0.71% of Orchestra BioMed at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

OBIO has been the subject of several research reports. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a report on Thursday, May 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. B. Riley Financial cut their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Finally, Barclays increased their target price on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Orchestra BioMed has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Orchestra BioMed Stock Performance

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

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. Sell-side analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Insider Activity at Orchestra BioMed

In other news, insider Darren Sherman sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $4.09, for a total transaction of $61,350.00. Following the completion of the transaction, the insider directly owned 1,154,327 shares of the company’s stock, valued at approximately $4,721,197.43. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 7.50% of the company’s stock.

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.