The Manufacturers Life Insurance Company Raises Position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

The Manufacturers Life Insurance Company raised its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,009 shares of the company’s stock after acquiring an additional 3,704 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Orchestra BioMed worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of 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 acquiring an additional 2,642 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after buying an additional 3,992 shares during the period. Barclays PLC boosted its holdings in Orchestra BioMed by 18.9% in the 4th quarter. Barclays PLC now owns 37,786 shares of the company’s stock worth $152,000 after buying an additional 6,001 shares during the period. JPMorgan Chase & Co. boosted its holdings in Orchestra BioMed by 354.5% in the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock worth $198,000 after buying an additional 38,535 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Orchestra BioMed by 34.3% in the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company’s stock worth $274,000 after buying an additional 17,500 shares during the period. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Tuesday, May 13th. Barclays dropped their target price on shares of Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating for the company in a report on Monday, May 5th. B. Riley raised shares of Orchestra BioMed to a “strong-buy” rating in a report on Thursday, April 3rd. BTIG Research assumed coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They issued a “buy” rating and a $12.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Orchestra BioMed currently has an average rating of “Buy” and a consensus target price of $14.20.

Orchestra BioMed Stock Up 0.3%

OBIO opened at $2.90 on Monday. The firm has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $4.55. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.37 and a 52 week high of $8.87. The company has a market capitalization of $111.11 million, a PE ratio of -1.80 and a beta of 0.67.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03). Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The company had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.39 million. As a group, sell-side analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

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.