The Manufacturers Life Insurance Company Has $171,000 Stock Holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

The Manufacturers Life Insurance Company decreased its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,305 shares of the company’s stock after selling 8,777 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Orchestra BioMed were worth $171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC bought a new stake in Orchestra BioMed in the third quarter worth $52,000. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the third quarter worth about $69,000. SkyView Investment Advisors LLC acquired a new stake in shares of Orchestra BioMed in the second quarter worth about $163,000. Rhumbline Advisers boosted its stake in shares of Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after acquiring an additional 17,405 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Orchestra BioMed by 115.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after acquiring an additional 37,906 shares during the last quarter. Institutional investors own 53.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research note on Friday, November 15th.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $5.09 on Tuesday. Orchestra BioMed Holdings, Inc. has a 52 week low of $4.22 and a 52 week high of $11.69. The firm has a market capitalization of $193.49 million, a PE ratio of -3.16 and a beta of 0.44. The business’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $6.29.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Research analysts forecast 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.