UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires Shares of 642,154 Orchestra BioMed Holdings, Inc. $OBIO

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 642,154 shares of the company’s stock, valued at approximately $2,771,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.07% of Orchestra BioMed at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Rice Hall James & Associates LLC bought a new position in Orchestra BioMed in the 2nd quarter worth approximately $1,830,000. Flat Footed LLC acquired a new stake in Orchestra BioMed in the second quarter worth about $1,084,670. BlackRock Inc. bought a new stake in Orchestra BioMed during the 2nd quarter worth about $10,832,000. Simplify Asset Management Inc. acquired a new position in Orchestra BioMed during the 1st quarter valued at about $932,000. Finally, 683 Capital Management LLC bought a new position in shares of Orchestra BioMed in the 4th quarter valued at about $847,000. 53.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OBIO has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report 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 on the stock in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Insider Activity

In related news, insider David P. Hochman bought 10,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were purchased at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the acquisition, the insider owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. This represents a 0.94% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darren Sherman sold 15,000 shares of Orchestra BioMed stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total transaction of $74,100.00. Following the completion of the transaction, the insider directly owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. The trade was 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. Insiders own 7.50% of the company’s stock.

Orchestra BioMed Trading Up 6.6%

Shares of NASDAQ OBIO opened at $5.81 on Friday. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $6.08. The stock has a market cap of $349.18 million, a price-to-earnings ratio of -6.84 and a beta of 0.54. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The company’s fifty day moving average is $4.46 and its 200-day moving average is $4.29.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $0.14 million. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current year.

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.