Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Short Interest Update

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 474,000 shares, a decline of 35.7% from the January 15th total of 736,700 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 97,000 shares, the days-to-cover ratio is currently 4.9 days.

Orchestra BioMed Stock Up 1.3 %

Shares of Orchestra BioMed stock opened at $5.67 on Friday. The company has a market cap of $215.52 million, a PE ratio of -3.52 and a beta of 0.57. The business has a 50 day moving average of $5.24 and a 200 day moving average of $5.54. Orchestra BioMed has a 52 week low of $3.96 and a 52 week high of $8.87.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays initiated coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research report on Friday, November 15th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OBIO. Boxer Capital Management LLC purchased a new position in shares of Orchestra BioMed during the fourth quarter valued at about $953,000. Northern Trust Corp boosted its position in Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company’s stock valued at $947,000 after acquiring an additional 5,725 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after acquiring an additional 3,704 shares during the period. Barclays PLC raised its position in shares of Orchestra BioMed by 18.9% in the 4th quarter. Barclays PLC now owns 37,786 shares of the company’s stock worth $152,000 after acquiring an additional 6,001 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after purchasing an additional 3,992 shares during the period. 53.55% of the stock is currently owned by institutional investors.

About Orchestra BioMed

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.