Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Sees Large Growth in Short Interest

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 2,223,290 shares, a growth of 79.5% from the June 15th total of 1,238,648 shares. Based on an average daily volume of 821,124 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OBIO. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Barclays boosted their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. B. Riley Financial reduced their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Five equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.60.

Orchestra BioMed Price Performance

NASDAQ OBIO opened at $3.68 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.03 and a quick ratio of 7.01. The firm has a market capitalization of $220.36 million, a price-to-earnings ratio of -3.79 and a beta of 0.49. The company has a 50 day simple moving average of $3.99 and a 200-day simple moving average of $4.15. Orchestra BioMed has a 52-week low of $2.20 and a 52-week high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $0.92 million. Equities research analysts predict that Orchestra BioMed will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Eric S. Fain acquired 20,000 shares of Orchestra BioMed stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $4.13 per share, with a total value of $82,600.00. Following the purchase, the director directly owned 91,709 shares in the company, valued at $378,758.17. The trade was a 27.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Aryeh bought 8,971 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was bought at an average price of $3.90 per share, for a total transaction of $34,986.90. Following the completion of the acquisition, the director directly owned 117,453 shares in the company, valued at approximately $458,066.70. The trade was a 8.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 39,636 shares of company stock worth $158,081 in the last ninety days. 7.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently made changes to their positions in OBIO. Bank of America Corp DE increased its stake in shares of Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after purchasing an additional 7,036 shares during the last quarter. Creative Planning bought a new stake 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 $45,000. Marshall Wace LLP acquired a new position in Orchestra BioMed during the second quarter worth $133,000. Finally, NewEdge Advisors LLC acquired a new position in Orchestra BioMed during the second quarter worth $118,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

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.