251,372 Shares in Orchestra BioMed Holdings, Inc. $OBIO Bought by Flat Footed LLC

Flat Footed LLC bought a new position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 251,372 shares of the company’s stock, valued at approximately $1,084,670,000. Orchestra BioMed makes up about 0.1% of Flat Footed LLC’s investment portfolio, making the stock its 18th largest holding. Flat Footed LLC owned 0.42% of Orchestra BioMed at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Orchestra BioMed during the second quarter valued at about $10,832,000. Alyeska Investment Group L.P. acquired a new position in shares of Orchestra BioMed in the third quarter valued at approximately $3,386,000. Pathstone Holdings LLC bought a new position in Orchestra BioMed in the 3rd quarter valued at approximately $2,495,000. Rice Hall James & Associates LLC acquired a new stake in Orchestra BioMed during the 2nd quarter worth approximately $1,830,000. Finally, Vanguard Group Inc. boosted its position in Orchestra BioMed by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock worth $3,675,000 after buying an additional 324,558 shares during the period. 53.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total transaction of $61,350.00. Following the sale, the insider directly owned 1,154,327 shares of the company’s stock, valued at $4,721,197.43. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OBIO shares. Barclays upped their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. B. Riley Financial reduced their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Orchestra BioMed Trading Down 1.5%

Orchestra BioMed stock opened at $5.36 on Wednesday. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78. The company has a market capitalization of $322.14 million, a price-to-earnings ratio of -6.31 and a beta of 0.50. The business’s fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $4.19. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. As a group, equities analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Orchestra BioMed Company Profile

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.