Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 19.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,070 shares of the company’s stock after selling 4,712 shares during the quarter. Jane Street Group LLC owned 0.05% of Orchestra BioMed worth $98,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Orchestra BioMed during the third quarter worth about $52,000. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the third quarter valued at about $69,000. SkyView Investment Advisors LLC purchased a new stake in Orchestra BioMed during the second quarter worth about $163,000. Rhumbline Advisers grew its position in Orchestra BioMed by 192.7% during the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Orchestra BioMed by 8.4% in 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 in the last quarter. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OBIO has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th. Barclays assumed coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Orchestra BioMed currently has an average rating of “Buy” and an average price target of $15.80.

Orchestra BioMed Stock Up 2.7 %

Shares of NASDAQ:OBIO opened at $5.27 on Wednesday. The company has a market capitalization of $200.33 million, a P/E ratio of -3.27 and a beta of 0.53. Orchestra BioMed Holdings, Inc. has a 52-week low of $3.96 and a 52-week high of $10.06. The stock’s fifty day simple moving average is $5.34 and its 200-day simple moving average is $5.91.

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