Simplify Asset Management Inc. Takes $932,000 Position in Orchestra BioMed Holdings, Inc. $OBIO

Simplify Asset Management Inc. bought a new stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 219,387 shares of the company’s stock, valued at approximately $932,000. Simplify Asset Management Inc. owned 0.37% of Orchestra BioMed as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. acquired a new position in Orchestra BioMed during the 4th quarter worth approximately $38,000. Creative Planning acquired a new stake in Orchestra BioMed in the second quarter valued at approximately $40,000. XTX Topco Ltd purchased a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $45,000. Jane Street Group LLC purchased a new stake in shares of Orchestra BioMed during the second quarter valued at approximately $50,000. Finally, Virtu Financial LLC acquired 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.

Insiders Place Their Bets

In related news, Director Eric S. Fain bought 20,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the purchase, the director owned 91,709 shares in the company, valued at $378,758.17. This trade represents a 27.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $3.87, for a total transaction of $58,050.00. Following the transaction, the insider directly owned 1,184,327 shares in the company, valued at $4,583,345.49. The trade was a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders purchased a total of 39,636 shares of company stock valued at $158,081 in the last ninety days. Corporate insiders own 7.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on OBIO shares. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Thursday, March 12th. Barclays lifted their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. B. Riley Financial cut their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research note on Thursday, May 14th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.60.

Orchestra BioMed Price Performance

OBIO stock opened at $4.19 on Friday. 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 50 day simple moving average of $4.03 and a 200-day simple moving average of $4.18. The company has a market capitalization of $250.90 million, a P/E ratio of -4.32 and a beta of 0.49. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $5.42.

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 the consensus estimate 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 firm had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.92 million. On average, equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current fiscal year.

Orchestra BioMed Company Profile

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.