Insider Buying: Orchestra BioMed (NASDAQ:OBIO) Insider Buys $19,150.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman acquired 5,000 shares of the stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $3.83 per share, with a total value of $19,150.00. Following the completion of the purchase, the insider owned 1,064,029 shares of the company’s stock, valued at approximately $4,075,231.07. The trade was a 0.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $3.99 on Friday. The company has a market cap of $238.92 million, a price-to-earnings ratio of -4.11 and a beta of 0.50. The company has a 50-day moving average price of $4.13 and a 200-day moving average price of $4.27. The company has a current ratio of 7.03, a quick ratio of 7.01 and a debt-to-equity ratio of 0.35. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.07. The firm had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.92 million. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%. As a group, equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OBIO. B. Riley Financial lowered 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 note on Tuesday, May 19th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Thursday, March 12th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Barclays upped their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Orchestra BioMed currently has an average rating of “Moderate Buy” and an average target price of $13.60.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. purchased a new position in shares of Orchestra BioMed during the 4th quarter worth $38,000. Creative Planning purchased a new position in shares of Orchestra BioMed during the 2nd quarter worth $40,000. XTX Topco Ltd purchased a new position in shares of Orchestra BioMed during the 2nd quarter worth $45,000. Jane Street Group LLC purchased a new position in shares of Orchestra BioMed during the 2nd quarter worth $50,000. Finally, Virtu Financial LLC purchased a new position in shares of Orchestra BioMed during the 4th quarter worth $57,000. Institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

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.