Geode Capital Management LLC Purchases 11,002 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

Geode Capital Management LLC boosted its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 567,219 shares of the company’s stock after acquiring an additional 11,002 shares during the period. Geode Capital Management LLC owned about 1.49% of Orchestra BioMed worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in OBIO. SG Americas Securities LLC bought a new position in shares of Orchestra BioMed during the third quarter valued at approximately $52,000. ABLE Financial Group LLC purchased a new stake in Orchestra BioMed during the third quarter worth $69,000. Barclays PLC boosted its position in Orchestra BioMed by 281.3% during 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 in the last quarter. SkyView Investment Advisors LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at $163,000. Finally, Rhumbline Advisers raised its position in shares of Orchestra BioMed by 192.7% in the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after acquiring an additional 17,405 shares in the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Orchestra BioMed Trading Down 0.7 %

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

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03. 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 $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. As a group, analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.