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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the target of a large 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. Based on an average daily volume of 821,124 shares, the short-interest ratio is currently 2.7 days. Currently, 4.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

OBIO has been the topic of several analyst reports. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Barclays boosted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Weiss Ratings cut Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Finally, 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 report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Orchestra BioMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Insider Buying and Selling

In other Orchestra BioMed news, Director Jason Aryeh purchased 8,971 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $3.90 per share, for a total transaction of $34,986.90. Following the completion of the transaction, the director owned 117,453 shares of the company’s stock, valued at approximately $458,066.70. The trade was a 8.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of Orchestra BioMed stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $3.87, for a total transaction of $58,050.00. Following the sale, the insider owned 1,184,327 shares in the company, valued at approximately $4,583,345.49. The trade was a 1.25% 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 bought 39,636 shares of company stock valued at $158,081 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its holdings in Orchestra BioMed by 200.7% during the 1st quarter. Bank of America Corp DE now owns 52,761 shares of the company’s stock worth $224,000 after buying an additional 35,214 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed during the first quarter valued at approximately $81,000. Knott David M Jr raised its position in shares of Orchestra BioMed by 1.5% during the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after purchasing an additional 3,651 shares during the period. Simplify Asset Management Inc. bought a new stake in shares of Orchestra BioMed in the 1st quarter worth approximately $932,000. Finally, Cannon Global Investment Management LLC bought a new stake in shares of Orchestra BioMed in the 1st quarter worth approximately $96,000. 53.20% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock traded down $0.04 on Friday, hitting $3.68. The stock had a trading volume of 200,318 shares, compared to its average volume of 491,382. Orchestra BioMed has a 52-week low of $2.20 and a 52-week 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. The stock has a market cap of $220.36 million, a price-to-earnings ratio of -3.79 and a beta of 0.49. The company’s 50 day moving average price is $3.99 and its 200 day moving average price is $4.15.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.07. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%. The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. On average, research analysts anticipate that Orchestra BioMed will post -1.47 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.