683 Capital Management LLC Makes New $847,000 Investment in Orchestra BioMed Holdings, Inc. $OBIO

683 Capital Management LLC purchased a new position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 204,076 shares of the company’s stock, valued at approximately $847,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OBIO. ExodusPoint Capital Management LP acquired a new position in shares of Orchestra BioMed during the 4th quarter worth about $397,000. Squarepoint Ops LLC acquired a new position in shares of Orchestra BioMed during the 4th quarter worth about $184,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Orchestra BioMed during the 4th quarter worth about $278,000. Barclays PLC increased its stake in shares of Orchestra BioMed by 9,451,600.0% during the 4th quarter. Barclays PLC now owns 94,517 shares of the company’s stock worth $392,000 after purchasing an additional 94,516 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Orchestra BioMed during the 4th quarter worth about $712,000. 53.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Orchestra BioMed news, Director Jason Aryeh bought 8,971 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average price of $3.90 per share, for a total transaction of $34,986.90. Following the transaction, the director directly owned 117,453 shares in the company, valued at approximately $458,066.70. This trade represents a 8.27% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric S. Fain bought 20,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were acquired at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the transaction, the director owned 91,709 shares in the company, valued at approximately $378,758.17. This represents a 27.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 39,636 shares of company stock worth $158,081 in the last quarter. Corporate insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on OBIO shares. B. Riley Financial lowered their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Barclays upped their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Thursday, March 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a research note on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.60.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $3.87 on Thursday. The company’s 50 day moving average price is $4.07 and its two-hundred day moving average price is $4.22. Orchestra BioMed Holdings, Inc. has a 12-month low of $2.20 and a 12-month high of $5.42. The firm has a market cap of $231.74 million, a PE ratio of -3.99 and a beta of 0.50. The company has a quick ratio of 7.01, a current ratio of 7.03 and a debt-to-equity ratio of 0.35.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current year.

Orchestra BioMed Company Profile

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.