Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Purchases 10,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 10,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was bought at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the purchase, the insider owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This represents a 0.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Orchestra BioMed Price Performance

Shares of OBIO opened at $5.08 on Tuesday. The stock has a 50 day moving average of $4.39 and a 200-day moving average of $4.26. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.20 and a 52 week high of $5.78. The firm has a market cap of $305.31 million, a price-to-earnings ratio of -5.98 and a beta of 0.54. 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 released its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.14 million. As a group, analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently modified their holdings of the business. Knott David M Jr grew its holdings in Orchestra BioMed by 1.5% during the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after purchasing an additional 3,651 shares during the last quarter. Citadel Advisors LLC grew its position in Orchestra BioMed by 9.2% during the third quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock worth $134,000 after buying an additional 4,561 shares in the last quarter. Bank of America Corp DE increased its stake in Orchestra BioMed by 35.7% during the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after acquiring an additional 5,678 shares during the period. Virtu Financial LLC acquired a new position in Orchestra BioMed in the 4th quarter valued at approximately $57,000. Finally, Algert Global LLC lifted its position in shares of Orchestra BioMed by 94.4% in the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after acquiring an additional 13,830 shares during the period. Institutional investors and hedge funds own 53.20% of the company’s stock.

Analysts Set New Price Targets

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

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.