Insider Selling: Orchestra BioMed (NASDAQ:OBIO) Insider Sells $86,100.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of Orchestra BioMed stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $5.74, for a total transaction of $86,100.00. Following the completion of the sale, the insider owned 1,104,402 shares of the company’s stock, valued at $6,339,267.48. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $6.36, for a total transaction of $95,400.00.
• On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.94, for a total transaction of $74,100.00.
• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were bought at an average price of $5.33 per share, for a total transaction of $10,660.00.

Orchestra BioMed Trading Down 6.3%

Shares of OBIO stock opened at $5.62 on Friday. Orchestra BioMed Holdings, Inc. has a 12-month low of $3.46 and a 12-month high of $6.50. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80. The firm’s 50 day moving average is $5.73 and its 200 day moving average is $4.57. The stock has a market capitalization of $337.79 million, a P/E ratio of -6.61 and a beta of 0.56.

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. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Analysts Set New Price Targets

OBIO has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Chardan Capital reissued a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Friday, October 23rd. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Monday, October 5th. B. Riley Financial raised their target price on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $13.17.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC purchased a new position in Orchestra BioMed during the first quarter valued at $81,000. Canada Pension Plan Investment Board bought a new stake in Orchestra BioMed during the second quarter valued at about $91,000. Bank of America Corp DE bought a new stake in Orchestra BioMed during the second quarter valued at about $103,000. AXQ Capital LP bought a new stake in Orchestra BioMed during the second quarter valued at about $110,000. Finally, Algert Global LLC increased its position in Orchestra BioMed by 94.4% in the second quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after buying an additional 13,830 shares in the last quarter. 53.20% of the stock is currently owned by institutional investors.

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.