Short Interest in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Grows By 79.5%

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,223,290 shares, a growth of 79.5% from the June 15th total of 1,238,648 shares. Based on an average daily volume of 821,124 shares, the short-interest ratio is currently 2.7 days. Currently, 4.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OBIO. B. Riley Financial dropped their price target 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. Weiss Ratings cut shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a research report on Thursday, May 14th. Barclays boosted their price target 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. Finally, Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.60.

Orchestra BioMed Stock Up 1.9%

Shares of NASDAQ OBIO opened at $3.72 on Friday. The company has a market cap of $222.75 million, a price-to-earnings ratio of -3.84 and a beta of 0.49. The company has a current ratio of 7.03, a quick ratio of 7.01 and a debt-to-equity ratio of 0.35. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $5.42. The stock has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $4.15.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.07. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%. As a group, analysts forecast that Orchestra BioMed will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $3.87, for a total value of $58,050.00. Following the completion of the sale, the insider directly owned 1,184,327 shares of the company’s stock, valued at $4,583,345.49. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Aryeh acquired 8,971 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $3.90 per share, for a total transaction of $34,986.90. Following the completion of the transaction, the director owned 117,453 shares in the company, valued at $458,066.70. The trade was a 8.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 39,636 shares of company stock valued at $158,081. Insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Simplify Asset Management Inc. bought a new stake in Orchestra BioMed in the first quarter valued at approximately $932,000. 683 Capital Management LLC bought a new position in shares of Orchestra BioMed in the fourth quarter worth approximately $847,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Orchestra BioMed in the fourth quarter worth approximately $38,000. Daytona Street Capital LLC purchased a new position in shares of Orchestra BioMed in the fourth quarter worth $89,000. Finally, Holos Integrated Wealth LLC bought a new stake in Orchestra BioMed during the 4th quarter valued at $222,000. 53.20% of the stock is owned by institutional investors.

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.