IFP Advisors Inc Has $229,000 Position in Orchestra BioMed Holdings, Inc. $OBIO

IFP Advisors Inc lowered its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) by 47.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,358 shares of the company's stock after selling 76,563 shares during the period. IFP Advisors Inc owned approximately 0.22% of Orchestra BioMed worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Nuveen LLC acquired a new position in shares of Orchestra BioMed during the first quarter worth approximately $179,000. Deutsche Bank AG increased its stake in Orchestra BioMed by 67.3% during the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company's stock valued at $87,000 after purchasing an additional 8,134 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock worth $95,000 after buying an additional 7,036 shares during the last quarter. 53.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OBIO. Weiss Ratings restated a "sell (e+)" rating on shares of Orchestra BioMed in a report on Wednesday, October 8th. HC Wainwright dropped their price objective on Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, August 13th. Finally, BTIG Research reiterated a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.50.

View Our Latest Stock Analysis on OBIO

Insider Buying and Selling

In other Orchestra BioMed news, insider David P. Hochman bought 20,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the transaction, the insider directly owned 349,331 shares of the company's stock, valued at $960,660.25. This trade represents a 6.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 37,760 shares of company stock worth $100,384 over the last quarter. 8.10% of the stock is owned by corporate insiders.

Orchestra BioMed Trading Up 0.5%

NASDAQ OBIO opened at $3.68 on Friday. The business's fifty day moving average is $2.71 and its 200-day moving average is $2.85. The company has a debt-to-equity ratio of 48.76, a current ratio of 2.10 and a quick ratio of 2.09. The stock has a market capitalization of $142.20 million, a price-to-earnings ratio of -2.01 and a beta of 0.60. Orchestra BioMed Holdings, Inc. has a one year low of $2.20 and a one year high of $6.50.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.01. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. The firm had revenue of $0.84 million for the quarter, compared to analysts' expectations of $0.78 million. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 EPS 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.

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