Affinity Asset Advisors LLC Trims Stock Position in Orchestra BioMed Holdings, Inc. $OBIO

Affinity Asset Advisors LLC lessened its holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 29.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 402,550 shares of the company’s stock after selling 170,254 shares during the period. Affinity Asset Advisors LLC’s holdings in Orchestra BioMed were worth $1,711,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OBIO. Knott David M Jr increased its position in shares of Orchestra BioMed by 1.5% during the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after acquiring an additional 3,651 shares during the last quarter. Citadel Advisors LLC increased its holdings in Orchestra BioMed by 9.2% in the 3rd quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock valued at $134,000 after purchasing an additional 4,561 shares during the last quarter. Bank of America Corp DE raised its position in Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after purchasing an additional 5,678 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in Orchestra BioMed during the fourth quarter worth $38,000. Finally, Virtu Financial LLC purchased a new position in shares of Orchestra BioMed during the fourth quarter worth $57,000. 53.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Barclays raised their price target on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a research report on Thursday, May 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. Finally, B. Riley Financial dropped their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Orchestra BioMed has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Orchestra BioMed Trading Up 2.7%

Shares of OBIO opened at $3.74 on Friday. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $5.42. The company has a current ratio of 7.03, a quick ratio of 7.01 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $223.95 million, a P/E ratio of -3.86 and a beta of 0.49. The firm’s 50-day moving average is $3.96 and its two-hundred day moving average is $4.13.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating 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 company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.92 million. On average, research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jason Aryeh purchased 8,971 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $3.90 per share, with a total value of $34,986.90. Following the completion of the acquisition, the director directly owned 117,453 shares in the company, valued at $458,066.70. The trade was a 8.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $3.87, for a total transaction of $58,050.00. Following the completion of the transaction, the insider owned 1,184,327 shares in the company, valued at approximately $4,583,345.49. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 39,636 shares of company stock worth $158,081 in the last three months. Corporate insiders own 7.50% of the company’s stock.

About Orchestra BioMed

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.