Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Buys 5,000 Shares of Company Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 5,000 shares of the stock in a transaction dated Monday, November 9th. The shares were acquired at an average price of $5.00 per share, with a total value of $25,000.00. Following the completion of the acquisition, the insider directly owned 437,916 shares of the company’s stock, valued at approximately $2,189,580. The trade was a 1.15% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Orchestra BioMed Price Performance

Orchestra BioMed stock opened at $5.70 on Tuesday. Orchestra BioMed Holdings, Inc. has a 12 month low of $3.46 and a 12 month high of $6.50. The business’s fifty day simple moving average is $5.75 and its two-hundred day simple moving average is $4.58. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.38) 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 business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.14 million. Equities analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OBIO shares. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. B. Riley Financial increased their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Friday, October 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research note on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.17.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed during the first quarter valued at $81,000. Canada Pension Plan Investment Board purchased a new position in shares of Orchestra BioMed in the 2nd quarter worth $91,000. Bank of America Corp DE bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth about $103,000. AXQ Capital LP purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at about $110,000. Finally, Algert Global LLC raised its position in shares of Orchestra BioMed by 94.4% during the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock valued at $123,000 after buying an additional 13,830 shares in the last quarter. Institutional investors own 53.20% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.