Orchestra BioMed (NASDAQ:OBIO) Insider Buys 2,000 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman purchased 2,000 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were acquired at an average cost of $5.33 per share, for a total transaction of $10,660.00. Following the completion of the transaction, the insider directly owned 2,000 shares in the company, valued at approximately $10,660. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Darren Sherman also recently made the following trade(s):

• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.09, for a total value of $61,350.00.
• On Monday, June 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $3.87, for a total value of $58,050.00.

Orchestra BioMed Stock Up 1.4%

OBIO traded up $0.07 on Friday, hitting $5.18. 154,427 shares of the company were exchanged, compared to its average volume of 263,694. The stock’s fifty day moving average is $4.27 and its 200-day moving average is $4.20. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The company has a market cap of $311.32 million, a PE ratio of -6.09 and a beta of 0.50.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OBIO shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a report on Thursday, May 14th. B. Riley Financial lowered their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Piper Sandler restated an “overweight” rating and issued a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Finally, Barclays raised their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Institutional Trading of Orchestra BioMed

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Orchestra BioMed in the 2nd quarter valued at about $10,832,000. Vanguard Group Inc. boosted its holdings in shares of Orchestra BioMed by 28.0% during the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock worth $3,675,000 after acquiring an additional 324,558 shares during the period. 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 acquired a new position in shares of Orchestra BioMed in the third quarter valued at approximately $2,495,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orchestra BioMed during the second quarter worth approximately $2,771,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

About Orchestra BioMed

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.