Barclays PLC Increases Holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Barclays PLC boosted its stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 281.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,785 shares of the company’s stock after buying an additional 23,448 shares during the period. Barclays PLC’s holdings in Orchestra BioMed were worth $163,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OBIO. SG Americas Securities LLC purchased a new position in shares of Orchestra BioMed during the 3rd quarter worth $52,000. ABLE Financial Group LLC purchased a new position in Orchestra BioMed during the third quarter worth about $69,000. SkyView Investment Advisors LLC acquired a new position in Orchestra BioMed in the 2nd quarter valued at about $163,000. Rhumbline Advisers grew its stake in shares of Orchestra BioMed by 192.7% in 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. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

Orchestra BioMed Stock Down 0.7 %

Shares of NASDAQ OBIO opened at $5.62 on Wednesday. Orchestra BioMed Holdings, Inc. has a 52-week low of $3.96 and a 52-week high of $10.06. The business’s 50 day moving average is $5.37 and its two-hundred day moving average is $5.98. The firm has a market cap of $213.64 million, a price-to-earnings ratio of -3.49 and a beta of 0.53.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OBIO has been the topic of a number of recent analyst reports. Chardan Capital reiterated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of Orchestra BioMed in a research report on Friday, November 15th. Finally, Barclays initiated coverage on Orchestra BioMed in a report on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price target for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.80.

About Orchestra BioMed

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.