ABLE Financial Group LLC Makes New Investment in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

ABLE Financial Group LLC bought a new stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,402 shares of the company’s stock, valued at approximately $69,000.

Several other institutional investors and hedge funds have also modified their holdings of OBIO. SG Americas Securities LLC bought a new stake in Orchestra BioMed during the 3rd quarter worth about $52,000. SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed during the second quarter worth approximately $163,000. The Manufacturers Life Insurance Company grew its stake in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after purchasing an additional 3,245 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after purchasing an additional 17,405 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after purchasing an additional 37,906 shares during the last quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,837 shares of Orchestra BioMed stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $6.10, for a total transaction of $41,705.70. Following the transaction, the insider now directly owns 793,275 shares in the company, valued at approximately $4,838,977.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 24,260 shares of company stock worth $138,573 in the last quarter. Corporate insiders own 6.70% of the company’s stock.

Orchestra BioMed Stock Up 2.8 %

Shares of Orchestra BioMed stock opened at $6.18 on Friday. Orchestra BioMed Holdings, Inc. has a 12 month low of $4.22 and a 12 month high of $11.69. The business has a fifty day simple moving average of $5.44 and a 200 day simple moving average of $6.18.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.04). Orchestra BioMed had a negative net margin of 2,673.26% and a negative return on equity of 89.28%. The firm had revenue of $0.78 million during the quarter, compared to analyst estimates of $1.04 million. As a group, equities research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current fiscal year.

Analyst Ratings Changes

OBIO has been the topic of several research reports. B. Riley initiated coverage on Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright started coverage on shares of Orchestra BioMed in a research report on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price on the stock.

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.