Geode Capital Management LLC Boosts Holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Geode Capital Management LLC boosted its position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 2.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 567,219 shares of the company’s stock after acquiring an additional 11,002 shares during the period. Geode Capital Management LLC’s holdings in Orchestra BioMed were worth $2,916,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Orchestra BioMed during the 3rd quarter worth about $52,000. ABLE Financial Group LLC acquired a new position in Orchestra BioMed in the 3rd quarter valued at about $69,000. Barclays PLC raised its position in Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after purchasing an additional 23,448 shares during the period. SkyView Investment Advisors LLC acquired a new stake in shares of Orchestra BioMed during the second quarter valued at about $163,000. Finally, Rhumbline Advisers lifted its stake in Orchestra BioMed by 192.7% during the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after purchasing an additional 17,405 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OBIO. Barclays initiated coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. 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. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $15.80.

Orchestra BioMed Price Performance

Shares of NASDAQ OBIO opened at $5.62 on Wednesday. The company has a market cap of $213.64 million, a PE ratio of -3.49 and a beta of 0.53. The stock has a fifty day moving average price of $5.37 and a 200 day moving average price of $5.98. Orchestra BioMed Holdings, Inc. has a 1-year low of $3.96 and a 1-year high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) 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 business had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million. Analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal 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.