Affinity Asset Advisors LLC Lowers Holdings in Orchestra BioMed Holdings, Inc. $OBIO

Affinity Asset Advisors LLC lessened its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 29.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 402,550 shares of the company’s stock after selling 170,254 shares during the quarter. Affinity Asset Advisors LLC owned about 0.67% of Orchestra BioMed worth $1,711,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OBIO. Bank of America Corp DE boosted its position in shares of Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after acquiring an additional 7,036 shares during the last quarter. Creative Planning purchased a new stake in shares of Orchestra BioMed in the second quarter worth about $40,000. XTX Topco Ltd purchased a new stake in shares of Orchestra BioMed in the second quarter worth about $45,000. Marshall Wace LLP bought a new position in Orchestra BioMed during the second quarter valued at approximately $133,000. Finally, NewEdge Advisors LLC bought a new position in Orchestra BioMed during the second quarter valued at approximately $118,000. 53.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OBIO. B. Riley Financial reduced their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Barclays raised their target price 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. Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research report on Thursday, May 14th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Orchestra BioMed presently has an average rating of “Moderate Buy” and a consensus target price of $13.60.

Orchestra BioMed Stock Performance

Shares of OBIO stock opened at $3.74 on Friday. The business has a fifty day moving average of $3.96 and a 200 day moving average of $4.13. Orchestra BioMed Holdings, Inc. has a 1 year low of $2.20 and a 1 year high of $5.42. 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 $223.95 million, a price-to-earnings ratio of -3.86 and a beta of 0.49.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The business had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%. As a group, research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current year.

Insider Activity

In related news, Director Jason Aryeh bought 8,971 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $3.90 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric S. Fain acquired 20,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $4.13 per share, with a total value of $82,600.00. Following the transaction, the director owned 91,709 shares of the company’s stock, valued at approximately $378,758.17. This trade represents a 27.89% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 39,636 shares of company stock valued at $158,081 in the last ninety days. Insiders own 7.50% of the company’s stock.

About Orchestra BioMed

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.