Jane Street Group LLC Trims Stock Position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Jane Street Group LLC decreased its holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 19.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,070 shares of the company’s stock after selling 4,712 shares during the period. Jane Street Group LLC’s holdings in Orchestra BioMed were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Orchestra BioMed in the third quarter worth approximately $52,000. ABLE Financial Group LLC purchased a new position in Orchestra BioMed during the third quarter worth approximately $69,000. SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at $163,000. Rhumbline Advisers grew 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 valued at $215,000 after buying an additional 17,405 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Orchestra BioMed by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after buying an additional 3,245 shares during the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Orchestra BioMed in a report on Friday, November 15th. Barclays began coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Orchestra BioMed currently has a consensus rating of “Buy” and an average target price of $15.80.

Orchestra BioMed Price Performance

NASDAQ:OBIO opened at $5.27 on Wednesday. Orchestra BioMed Holdings, Inc. has a 12 month low of $3.96 and a 12 month high of $10.06. The business’s 50-day moving average is $5.34 and its two-hundred day moving average is $5.91. The firm has a market capitalization of $200.33 million, a PE ratio of -3.27 and a beta of 0.53.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. Equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Orchestra BioMed Company 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.