Geode Capital Management LLC Boosts Stock Holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Geode Capital Management LLC grew its position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 572,441 shares of the company’s stock after acquiring an additional 5,222 shares during the quarter. Geode Capital Management LLC owned about 1.51% of Orchestra BioMed worth $2,290,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OBIO. SG Americas Securities LLC boosted its stake in Orchestra BioMed by 26.0% during the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after purchasing an additional 2,642 shares during the last quarter. Barclays PLC lifted its stake in shares of Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after buying an additional 23,448 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Orchestra BioMed by 354.5% during the fourth quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock worth $198,000 after acquiring an additional 38,535 shares during the last quarter. HighTower Advisors LLC grew its stake in Orchestra BioMed by 34.3% during the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company’s stock valued at $274,000 after acquiring an additional 17,500 shares in the last quarter. Finally, State Street Corp lifted its stake in Orchestra BioMed by 12.4% in the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares in the last quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Stock Performance

Shares of OBIO opened at $2.53 on Wednesday. The stock has a market capitalization of $96.93 million, a PE ratio of -1.57 and a beta of 0.62. The company’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $4.82. Orchestra BioMed Holdings, Inc. has a 1 year low of $2.43 and a 1 year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.43) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.43). Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.25 million for the quarter, compared to analysts’ expectations of $0.79 million. On average, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on OBIO shares. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Tuesday, April 22nd. HC Wainwright reiterated a “buy” rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Barclays assumed coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective for the company. B. Riley upgraded shares of Orchestra BioMed to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, BTIG Research began coverage on Orchestra BioMed in a research note on Thursday, March 20th. They issued a “buy” rating and a $12.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.00.

Orchestra BioMed Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.