Flat Footed LLC Acquires New Position in Orchestra BioMed Holdings, Inc. $OBIO

Flat Footed LLC purchased a new position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 251,372 shares of the company’s stock, valued at approximately $1,084,670. Orchestra BioMed accounts for about 0.0% of Flat Footed LLC’s portfolio, making the stock its 18th biggest position. Flat Footed LLC owned about 0.42% of Orchestra BioMed as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Creative Planning purchased a new position in Orchestra BioMed in the second quarter worth $40,000. XTX Topco Ltd acquired a new position in Orchestra BioMed during the second quarter worth about $45,000. Jane Street Group LLC purchased a new position in Orchestra BioMed during the second quarter worth about $50,000. Virtu Financial LLC acquired a new stake in Orchestra BioMed during the 4th quarter valued at $57,000. Finally, Bank of America Corp DE raised its position in shares of Orchestra BioMed by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after purchasing an additional 5,678 shares during the period. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on OBIO shares. Piper Sandler reissued an “overweight” rating and set a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Barclays boosted their target price on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, B. Riley Financial cut their price objective 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. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Orchestra BioMed currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Insiders Place Their Bets

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

Orchestra BioMed Stock Performance

Shares of NASDAQ OBIO traded up $0.07 during midday trading on Friday, hitting $5.18. 129,238 shares of the company’s stock were exchanged, compared to its average volume of 263,384. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The firm has a market cap of $311.32 million, a P/E ratio of -6.09 and a beta of 0.50. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $5.78. The stock’s 50 day moving average price is $4.27 and its 200-day moving average price is $4.20.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (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 analyst estimates of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Equities research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

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.