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

Simplify Asset Management Inc. purchased a new stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the first quarter, according to its most recent filing with the SEC. The fund purchased 219,387 shares of the company’s stock, valued at approximately $932,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cannon Global Investment Management LLC bought a new position in Orchestra BioMed during the first quarter worth $96,000. Virtu Financial LLC bought a new stake in Orchestra BioMed during the fourth quarter valued at $57,000. XTX Topco Ltd increased its stake in Orchestra BioMed by 44.6% during the fourth quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock valued at $209,000 after purchasing an additional 15,540 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Orchestra BioMed during the fourth quarter worth $76,000. Finally, 683 Capital Management LLC acquired a new stake in shares of Orchestra BioMed during the fourth quarter worth $847,000. 53.20% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Price Performance

OBIO stock opened at $4.19 on Friday. The stock has a market cap of $250.90 million, a PE ratio of -4.32 and a beta of 0.49. The firm’s 50-day simple moving average is $4.03 and its 200 day simple moving average is $4.18. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.42. The company has a quick ratio of 7.01, a current ratio of 7.03 and a debt-to-equity ratio of 0.35.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $0.92 million. As a group, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 EPS for the current year.

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, Director Eric S. Fain purchased 20,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $4.13 per share, with a total value of $82,600.00. Following the completion of the acquisition, the director owned 91,709 shares in the company, valued at approximately $378,758.17. This represents a 27.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $3.87, for a total value of $58,050.00. Following the transaction, the insider owned 1,184,327 shares of the company’s stock, valued at approximately $4,583,345.49. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 39,636 shares of company stock worth $158,081. 7.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OBIO. Weiss Ratings downgraded shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Barclays boosted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. B. Riley Financial cut their target price 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. Finally, HC Wainwright restated a “buy” rating and issued 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Orchestra BioMed 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.