Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Sees Large Decline in Short Interest

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 474,000 shares, a decrease of 35.7% from the January 15th total of 736,700 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average trading volume of 97,000 shares, the short-interest ratio is presently 4.9 days.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. SG Americas Securities LLC grew its position in shares of Orchestra BioMed by 26.0% in the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock valued at $51,000 after purchasing an additional 2,642 shares during the period. Wells Fargo & Company MN grew its position in shares of Orchestra BioMed by 43.6% in the fourth 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. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the third quarter valued at about $69,000. The Manufacturers Life Insurance Company grew its position in shares of Orchestra BioMed by 11.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock valued at $148,000 after purchasing an additional 3,704 shares during the period. Finally, Barclays PLC grew its position in shares of Orchestra BioMed by 18.9% in the fourth quarter. Barclays PLC now owns 37,786 shares of the company’s stock valued at $152,000 after purchasing an additional 6,001 shares during the period. Institutional investors and hedge funds own 53.55% of the company’s stock.

Orchestra BioMed Stock Up 1.3 %

OBIO stock traded up $0.07 during midday trading on Friday, hitting $5.67. 28,344 shares of the stock traded hands, compared to its average volume of 65,347. The stock’s fifty day simple moving average is $5.24 and its 200-day simple moving average is $5.54. Orchestra BioMed has a 1-year low of $3.96 and a 1-year high of $8.87.

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.