Barclays PLC Increases Stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Barclays PLC grew its stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 281.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,785 shares of the company’s stock after purchasing an additional 23,448 shares during the period. Barclays PLC owned about 0.08% of Orchestra BioMed worth $163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OBIO. RTW Investments LP boosted its holdings in Orchestra BioMed by 46.0% during the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after buying an additional 2,585,519 shares in the last quarter. State Street Corp raised its position in shares of Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after acquiring an additional 47,308 shares during the period. Bank of New York Mellon Corp raised its position in shares of Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after acquiring an additional 37,906 shares during the period. SkyView Investment Advisors LLC purchased a new stake in shares of Orchestra BioMed during the 2nd quarter worth about $163,000. Finally, Rhumbline Advisers grew its position in shares of Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after acquiring an additional 17,405 shares during the period. Institutional investors and hedge funds own 53.55% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on OBIO. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a report on Friday, November 15th. Barclays assumed coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 target price for the company. Finally, Chardan Capital reissued a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.80.

Orchestra BioMed Price Performance

NASDAQ OBIO opened at $5.62 on Wednesday. Orchestra BioMed Holdings, Inc. has a 1-year low of $3.96 and a 1-year high of $10.06. The company has a market cap of $213.64 million, a PE ratio of -3.49 and a beta of 0.53. The stock’s 50 day simple moving average is $5.37 and its 200-day simple moving average is $5.98.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. On average, equities research analysts anticipate 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.