Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Short Interest Up 79.5% in June

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,223,290 shares, an increase of 79.5% from the June 15th total of 1,238,648 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily volume of 821,124 shares, the short-interest ratio is currently 2.7 days.

Orchestra BioMed Stock Up 1.9%

Orchestra BioMed stock opened at $3.72 on Friday. The firm has a market cap of $222.75 million, a price-to-earnings ratio of -3.84 and a beta of 0.49. The stock has a fifty day simple moving average of $4.00 and a two-hundred day simple moving average of $4.15. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $5.42. The company has a current ratio of 7.03, a quick ratio of 7.01 and a debt-to-equity ratio of 0.35.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.The firm had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.92 million. Equities analysts predict that Orchestra BioMed will post -1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OBIO. Barclays boosted their target price on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. B. Riley Financial dropped their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a report on Thursday, May 14th. Weiss Ratings downgraded shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, Director Eric S. Fain purchased 20,000 shares of Orchestra BioMed stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the acquisition, the director directly owned 91,709 shares in the company, valued at approximately $378,758.17. This trade represents a 27.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Aryeh purchased 8,971 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $3.90 per share, with a total value of $34,986.90. Following the transaction, the director directly owned 117,453 shares in the company, valued at $458,066.70. The trade was a 8.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 39,636 shares of company stock worth $158,081. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

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

About Orchestra BioMed

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.