Short Interest in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Rises By 24.2%

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totalling 1,020,000 shares, a growth of 24.2% from the June 30th total of 821,100 shares. Approximately 5.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 124,400 shares, the days-to-cover ratio is presently 8.2 days.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. B. Riley assumed coverage on shares of Orchestra BioMed in a research report on Thursday, July 25th. They issued a “buy” rating and a $15.00 price target for 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, June 12th.

Orchestra BioMed Stock Down 0.6 %

Shares of NASDAQ OBIO traded down $0.04 on Tuesday, hitting $7.00. The company’s stock had a trading volume of 1,154 shares, compared to its average volume of 84,086. The stock has a 50 day moving average of $7.41 and a 200-day moving average of $6.44. Orchestra BioMed has a 12-month low of $4.22 and a 12-month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. Orchestra BioMed had a negative net margin of 2,330.46% and a negative return on equity of 70.18%. The firm had revenue of $0.62 million during the quarter, compared to analyst estimates of $1.28 million. Equities analysts anticipate that Orchestra BioMed will post -1.56 EPS for the current fiscal year.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider William Reed Little bought 4,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $7.00 per share, with a total value of $28,000.00. Following the purchase, the insider now directly owns 307,859 shares of the company’s stock, valued at approximately $2,155,013. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of New York Mellon Corp raised its stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 115.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,682 shares of the company’s stock after acquiring an additional 37,906 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.20% of Orchestra BioMed worth $576,000 at the end of the most recent quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

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.