SkyView Investment Advisors LLC Invests $163,000 in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)

SkyView Investment Advisors LLC acquired a new stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $163,000. SkyView Investment Advisors LLC owned about 0.06% of Orchestra BioMed as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Catalytic Wealth RIA LLC purchased a new stake in Orchestra BioMed during the 1st quarter valued at $117,000. Rhumbline Advisers increased its position in Orchestra BioMed by 192.7% during the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after acquiring an additional 17,405 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after acquiring an additional 3,245 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after acquiring an additional 37,906 shares during the period. Institutional investors own 53.55% of the company’s stock.

Insiders Place Their Bets

In other news, insider Darren Sherman sold 6,819 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $5.65, for a total value of $38,527.35. Following the completion of the transaction, the insider now owns 779,495 shares of the company’s stock, valued at $4,404,146.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 24,260 shares of company stock worth $138,573. Corporate insiders own 6.70% of the company’s stock.

Orchestra BioMed Trading Up 3.9 %

Shares of NASDAQ:OBIO opened at $5.02 on Monday. The stock has a 50 day moving average of $6.16 and a 200 day moving average of $6.11. The company has a market cap of $179.66 million, a PE ratio of -3.39 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a 12-month low of $4.22 and a 12-month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on OBIO. B. Riley started coverage on shares of Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target for the company. HC Wainwright started coverage on shares of Orchestra BioMed in a report on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, June 12th.

Orchestra BioMed Company Profile

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.