Orchard Therapeutics Target of Unusually High Options Trading (NASDAQ:ORTX)

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Orchard Therapeutics plc (NASDAQ:ORTX) was the target of unusually large options trading on Wednesday. Stock investors acquired 3,097 call options on the company. This represents an increase of approximately 1,082% compared to the typical daily volume of 262 call options.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its holdings in Orchard Therapeutics by 1,448.6% during the second quarter. California Public Employees Retirement System now owns 171,900 shares of the company’s stock valued at $1,031,000 after purchasing an additional 160,800 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Orchard Therapeutics by 183.2% during the second quarter. Goldman Sachs Group Inc. now owns 171,943 shares of the company’s stock worth $1,032,000 after acquiring an additional 111,226 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Orchard Therapeutics during the second quarter worth $399,000. Marshall Wace North America L.P. purchased a new stake in shares of Orchard Therapeutics during the second quarter worth $87,000. Finally, Bank of America Corp DE lifted its position in shares of Orchard Therapeutics by 5.7% during the second quarter. Bank of America Corp DE now owns 152,197 shares of the company’s stock worth $914,000 after acquiring an additional 8,192 shares in the last quarter. Hedge funds and other institutional investors own 70.03% of the company’s stock.

A number of brokerages recently weighed in on ORTX. ValuEngine upgraded Orchard Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 1st. BidaskClub lowered Orchard Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 8th. Oppenheimer reduced their price objective on Orchard Therapeutics from $26.00 to $16.00 and set an “outperform” rating on the stock in a research report on Monday, September 14th. Finally, Zacks Investment Research lowered Orchard Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Orchard Therapeutics has a consensus rating of “Buy” and an average target price of $12.75.

Shares of NASDAQ ORTX traded up $1.82 during trading on Wednesday, reaching $6.69. The company had a trading volume of 175,420 shares, compared to its average volume of 1,864,010. The company’s fifty day moving average price is $4.60 and its 200-day moving average price is $4.94. Orchard Therapeutics has a 12 month low of $3.76 and a 12 month high of $15.93. The stock has a market cap of $650.70 million, a P/E ratio of -3.58 and a beta of 1.20. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.11.

Orchard Therapeutics (NASDAQ:ORTX) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.26. The company had revenue of $2.00 million during the quarter. As a group, equities analysts predict that Orchard Therapeutics will post -1.85 earnings per share for the current year.

Orchard Therapeutics Company Profile

Orchard Therapeutics plc, a biopharmaceutical company, develops gene therapies for serious and life-threatening rare diseases in the United Kingdom, European Union, and the United States. The company’s gene therapy approach seeks to transform a patient’s hematopoietic stem cells into a gene-modified drug product to treat the patient’s disease through a single administration.

Further Reading: Strangles

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