Orchestra BioMed (NASDAQ:OBIO) Director Acquires $100,000.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director David Pacitti purchased 20,000 shares of the stock in a transaction dated Monday, November 9th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director owned 74,750 shares of the company’s stock, valued at approximately $373,750. This represents a 36.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Orchestra BioMed Trading Up 4.9%

Orchestra BioMed stock opened at $6.01 on Thursday. 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 Holdings, Inc. has a one year low of $3.46 and a one year high of $6.50. The stock has a market capitalization of $369.33 million, a PE ratio of -8.01 and a beta of 0.56. The business’s fifty day moving average is $5.79 and its 200 day moving average is $4.60.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. Orchestra BioMed had a negative return on equity of 149.76% and a negative net margin of 182.50%. On average, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Orchestra BioMed in the 2nd quarter worth approximately $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Orchestra BioMed during the second quarter valued at approximately $2,771,000. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed during the second quarter valued at approximately $1,830,000. Flat Footed LLC purchased a new stake in Orchestra BioMed during the second quarter valued at approximately $1,084,670. Finally, Knott David M Jr increased 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 buying an additional 3,651 shares during the last quarter. 53.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.