251,372 Shares in Orchestra BioMed Holdings, Inc. $OBIO Bought by Flat Footed LLC

Key Points

• Flat Footed LLC acquired 251,372 shares of Orchestra BioMed in the second quarter, worth approximately $1.08 billion according to the disclosure, representing a 0.42% stake. Institutional investors collectively own 53.2% of the company.
• Analyst sentiment remains broadly positive: six analysts rate OBIO a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $13, compared with the stock’s reported $5.36 opening price.
• Orchestra BioMed reported a quarterly loss of $0.38 per share, slightly better than estimates, but revenue of $0.09 million missed expectations and the company remains unprofitable, with a negative net margin of 184.6%.

Flat Footed LLC bought a new position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 251,372 shares of the company's stock, valued at approximately $1,084,670,000. Orchestra BioMed makes up about 0.1% of Flat Footed LLC's investment portfolio, making the stock its 18th largest holding. Flat Footed LLC owned 0.42% of Orchestra BioMed at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Orchestra BioMed during the second quarter valued at about $10,832,000. Alyeska Investment Group L.P. acquired a new position in shares of Orchestra BioMed in the third quarter valued at approximately $3,386,000. Pathstone Holdings LLC bought a new position in Orchestra BioMed in the 3rd quarter valued at approximately $2,495,000. Rice Hall James & Associates LLC acquired a new stake in Orchestra BioMed during the 2nd quarter worth approximately $1,830,000. Finally, Vanguard Group Inc. boosted its position in Orchestra BioMed by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company's stock worth $3,675,000 after buying an additional 324,558 shares during the period. 53.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total transaction of $61,350.00. Following the sale, the insider directly owned 1,154,327 shares of the company's stock, valued at $4,721,197.43. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 7.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on OBIO shares. Barclays upped their price target 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. B. Riley Financial reduced their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Piper Sandler reaffirmed an "overweight" rating and set a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. Wall Street Zen lowered Orchestra BioMed from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Orchestra BioMed Trading Down 1.5%

Orchestra BioMed stock opened at $5.36 on Wednesday. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78. The company has a market capitalization of $322.14 million, a price-to-earnings ratio of -6.31 and a beta of 0.50. The business's fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $4.19. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.01. The company had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. As a group, equities analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 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.

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