Orchard Therapeutics plc (NASDAQ:ORTX – Get Rating) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 777,900 shares, a drop of 48.8% from the April 15th total of 1,520,000 shares. Based on an average daily volume of 582,300 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.7% of the company’s shares are short sold.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Orchard Therapeutics by 964.4% during the third quarter. Renaissance Technologies LLC now owns 1,064,379 shares of the company’s stock valued at $2,448,000 after purchasing an additional 964,379 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Orchard Therapeutics by 62.0% during the first quarter. SG Americas Securities LLC now owns 1,052,786 shares of the company’s stock valued at $750,000 after buying an additional 403,116 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Orchard Therapeutics by 19.9% in the 1st quarter. BlackRock Inc. now owns 749,990 shares of the company’s stock valued at $534,000 after buying an additional 124,478 shares in the last quarter. Eversept Partners LP purchased a new position in shares of Orchard Therapeutics in the 3rd quarter worth approximately $1,310,000. Finally, Millennium Management LLC raised its stake in shares of Orchard Therapeutics by 1,740.2% during the 3rd quarter. Millennium Management LLC now owns 411,713 shares of the company’s stock worth $947,000 after acquiring an additional 389,340 shares in the last quarter. 56.47% of the stock is owned by hedge funds and other institutional investors.
ORTX has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of Orchard Therapeutics from $12.00 to $5.00 in a report on Thursday, March 31st. Barclays dropped their target price on shares of Orchard Therapeutics from $6.00 to $4.00 in a research note on Friday. Zacks Investment Research raised shares of Orchard Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 2nd. Sumitomo Mitsui Financial Group reiterated a “neutral” rating on shares of Orchard Therapeutics in a report on Friday, April 1st. Finally, Cowen downgraded Orchard Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday, March 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.00.
Orchard Therapeutics (NASDAQ:ORTX – Get Rating) last issued its quarterly earnings data on Wednesday, March 30th. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29). The business had revenue of $0.48 million during the quarter, compared to the consensus estimate of $0.65 million. During the same period last year, the firm earned ($0.34) EPS. On average, research analysts predict that Orchard Therapeutics will post -0.72 EPS for the current fiscal year.
Orchard Therapeutics Company Profile (Get Rating)
Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company's gene therapy approach seeks to transform a patient's hematopoietic stem cells into a gene-modified cellular drug product to treat the patient's disease through a single administration.
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