Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Short Interest Down 35.7% in January

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 474,000 shares, a decline of 35.7% from the January 15th total of 736,700 shares. Currently, 1.8% of the company's stock are sold short. Based on an average daily volume of 97,000 shares, the days-to-cover ratio is presently 4.9 days.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OBIO. Chardan Capital reiterated a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, November 13th. Barclays began coverage on Orchestra BioMed in a report on Thursday, January 2nd. They issued an "overweight" rating and a $16.00 price target for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $14.00 price target on shares of Orchestra BioMed in a report on Friday, November 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Orchestra BioMed during the 3rd quarter valued at approximately $52,000. Wells Fargo & Company MN boosted its position in Orchestra BioMed by 43.6% during the 4th 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 position in Orchestra BioMed during the 3rd quarter valued at approximately $69,000. Millennium Management LLC acquired a new position in Orchestra BioMed during the 4th quarter valued at approximately $86,000. Finally, Bank of America Corp DE boosted its position in Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock valued at $95,000 after purchasing an additional 7,036 shares during the period. Institutional investors and hedge funds own 53.55% of the company's stock.

Orchestra BioMed Price Performance

NASDAQ:OBIO traded up $0.07 during midday trading on Monday, reaching $5.67. 28,344 shares of the company traded hands, compared to its average volume of 65,347. Orchestra BioMed has a twelve month low of $3.96 and a twelve month high of $8.87. The firm has a market capitalization of $215.52 million, a price-to-earnings ratio of -3.52 and a beta of 0.57. The company has a fifty day moving average price of $5.25 and a 200 day moving average price of $5.52.

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.