Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Acquires 10,000 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman purchased 10,000 shares of the stock in a transaction on Thursday, September 3rd. The shares were purchased at an average price of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Orchestra BioMed Price Performance

Shares of OBIO opened at $5.43 on Wednesday. The firm has a market capitalization of $326.37 million, a price-to-earnings ratio of -6.39 and a beta of 0.54. The firm’s fifty day simple moving average is $4.41 and its 200-day simple moving average is $4.27. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $5.78. 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) 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. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OBIO shares. B. Riley Financial reduced their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Barclays upped their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Orchestra BioMed has an average rating of “Moderate Buy” and an average target price of $13.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Creative Planning purchased a new stake in Orchestra BioMed during the 2nd quarter worth $40,000. XTX Topco Ltd acquired a new stake in shares of Orchestra BioMed during the second quarter worth approximately $45,000. Jane Street Group LLC acquired a new stake in Orchestra BioMed in the second quarter valued at $50,000. Virtu Financial LLC acquired a new position in Orchestra BioMed during the 4th quarter worth $57,000. Finally, Bank of America Corp DE increased its position in shares of Orchestra BioMed by 35.7% in the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after purchasing an additional 5,678 shares during the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

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.