SG Americas Securities LLC Buys 2,642 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

SG Americas Securities LLC raised its stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,785 shares of the company’s stock after purchasing an additional 2,642 shares during the period. SG Americas Securities LLC’s holdings in Orchestra BioMed were worth $51,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ABLE Financial Group LLC bought a new stake in Orchestra BioMed in the third quarter valued at $69,000. Barclays PLC grew its holdings in shares of Orchestra BioMed by 281.3% during the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after buying an additional 23,448 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after buying an additional 3,245 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Orchestra BioMed by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after buying an additional 8,107 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Orchestra BioMed by 12.4% during the third quarter. State Street Corp now owns 429,613 shares of the company’s stock valued at $2,208,000 after buying an additional 47,308 shares during the last quarter. 53.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OBIO has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a report on Friday, November 15th. Chardan Capital reiterated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, November 13th. Finally, Barclays initiated coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price objective for the company.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $5.60 on Friday. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $8.87. The stock has a market cap of $212.86 million, a PE ratio of -3.48 and a beta of 0.57. The firm’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.56.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The business had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million. As a group, analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 EPS 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.