2 weeks Ago By ABMN Staff
Rhumbline Advisers boosted its position in shares of Orchestra BioMed Holdings, Inc. ( NASDAQ:OBIO – Free Report ) by 192.7% during the 2nd quarter, HoldingsChannel reports.
The firm owned 26,439 shares of the company’s stock after buying an additional 17,405 shares during the period. Rhumbline Advisers’ holdings in Orchestra BioMed were worth $215,000 at the end of the most recent quarter. Separately, Bank of New York Mellon Corp increased its stake in shares of Orchestra BioMed by 115.
7% during the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after buying an additional 37,906 shares during the period. 53.
55% of the stock is owned by hedge funds and other institutional investors. Insider Activity at Orchestra BioMed In other Orchestra BioMed news, insider Darren Sherman sold 6,804 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $5.
48, for a total value of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares of the company’s stock, valued at $4,234,346.
68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink . Insiders have sold 24,260 shares of company stock valued at $138,573 in the last ninety days.
Corporate insiders own 6.70% of the company’s stock. Orchestra BioMed Stock Performance Orchestra BioMed ( NASDAQ:OBIO – Get Free Report ) last released its quarterly earnings results on Monday, August 12th.
The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.
04). Orchestra BioMed had a negative return on equity of 89.28% and a negative net margin of 2,673.
26%. The firm had revenue of $0.78 million during the quarter, compared to analysts’ expectations of $1.
04 million. On average, research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.
67 EPS for the current year. Analyst Upgrades and Downgrades A number of analysts recently weighed in on OBIO shares. HC Wainwright began coverage on shares of Orchestra BioMed in a research note on Thursday, August 22nd.
They issued a “buy” rating and a $14.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $20.
00 price target on shares of Orchestra BioMed in a research report on Wednesday, June 12th. Finally, B. Riley started coverage on shares of Orchestra BioMed in a report on Thursday, July 25th.
They set a “buy” rating and a $15.00 price objective on the stock. Read Our Latest Stock Report on OBIO About Orchestra BioMed ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding OBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Orchestra BioMed Holdings, Inc.
( NASDAQ:OBIO – Free Report ). Receive News & Ratings for Orchestra BioMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Orchestra BioMed and related companies with MarketBeat.com's FREE daily email newsletter .
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