The Manufacturers Life Insurance Company Acquires 3,704 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

The Manufacturers Life Insurance Company lifted its holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 11.1% in the fourth quarter, Holdings Channel reports. The fund owned 37,009 shares of the company’s stock after purchasing an additional 3,704 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Orchestra BioMed were worth $148,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OBIO. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 38,535 shares during the last quarter. Barclays PLC lifted its holdings in shares of Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after acquiring an additional 23,448 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Orchestra BioMed by 34.3% in the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company’s stock valued at $274,000 after acquiring an additional 17,500 shares during the last quarter. Geode Capital Management LLC raised its position in Orchestra BioMed by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock worth $2,290,000 after purchasing an additional 5,222 shares during the period. Finally, Wells Fargo & Company MN raised its position in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after purchasing an additional 3,992 shares during the period. Institutional investors own 53.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OBIO. Chardan Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. BTIG Research began coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They issued a “buy” rating and a $12.00 price objective on the stock. B. Riley raised shares of Orchestra BioMed to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, Barclays reduced their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $14.20.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $2.90 on Monday. The firm has a market cap of $111.11 million, a PE ratio of -1.80 and a beta of 0.67. The firm’s 50 day simple moving average is $3.23 and its 200-day simple moving average is $4.55. Orchestra BioMed Holdings, Inc. has a one year low of $2.37 and a one year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, May 12th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.03). The company had revenue of $0.87 million for the quarter, compared to analysts’ expectations of $0.39 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Orchestra BioMed Company 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.