Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 487,170 shares of the company’s stock after selling 25,493 shares during the period. Price T Rowe Associates Inc. MD owned 1.28% of Orchestra BioMed worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in OBIO. SG Americas Securities LLC grew its stake in Orchestra BioMed by 26.0% during the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after buying an additional 2,642 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after acquiring an additional 3,992 shares during the last quarter. Barclays PLC increased its holdings in shares of Orchestra BioMed by 18.9% in the 4th quarter. Barclays PLC now owns 37,786 shares of the company’s stock worth $152,000 after acquiring an additional 6,001 shares during the period. JPMorgan Chase & Co. lifted its position in Orchestra BioMed by 354.5% in the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock valued at $198,000 after purchasing an additional 38,535 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in Orchestra BioMed by 34.3% during the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company’s stock valued at $274,000 after purchasing an additional 17,500 shares during the period. 53.55% of the stock is owned by institutional investors.

Orchestra BioMed Stock Up 1.4 %

Shares of NASDAQ:OBIO opened at $2.46 on Thursday. The company’s fifty day moving average is $3.41 and its two-hundred day moving average is $4.71. The company has a market cap of $94.06 million, a P/E ratio of -1.52 and a beta of 0.67. Orchestra BioMed Holdings, Inc. has a 12-month low of $2.37 and a 12-month high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, March 31st. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.43). 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 $0.25 million during the quarter, compared to the consensus estimate of $0.79 million. Equities research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OBIO. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Tuesday, April 22nd. Barclays reduced their price target on Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday. HC Wainwright reiterated a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. BTIG Research initiated coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They set a “buy” rating and a $12.00 price target on the stock. Finally, B. Riley raised shares of Orchestra BioMed to a “strong-buy” rating in a research note on Thursday, April 3rd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $14.20.

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.