Orchestra BioMed (NASDAQ:OBIO) Insider Acquires $25,000.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $5.00 per share, for a total transaction of $25,000.00. Following the acquisition, the insider directly owned 437,916 shares in the company, valued at $2,189,580. This trade represents a 1.15% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Orchestra BioMed Trading Up 0.4%

OBIO traded up $0.02 during trading on Monday, reaching $5.70. The company had a trading volume of 781,799 shares, compared to its average volume of 290,898. The stock has a market cap of $342.60 million, a P/E ratio of -6.71 and a beta of 0.56. The business has a 50 day simple moving average of $5.74 and a 200-day simple moving average of $4.57. Orchestra BioMed Holdings, Inc. has a 52 week low of $3.46 and a 52 week high of $6.50. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.14 million. On average, equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current fiscal year.

Analyst Ratings Changes

OBIO has been the subject of a number of recent analyst reports. B. Riley Financial lifted their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Friday, October 23rd. Finally, HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Six equities 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.com, Orchestra BioMed has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds have recently added to or reduced their stakes in the stock. Rice Hall James & Associates LLC bought a new stake in shares of Orchestra BioMed in the 1st quarter valued at about $81,000. Canada Pension Plan Investment Board purchased a new stake in Orchestra BioMed during the 2nd quarter valued at about $91,000. Bank of America Corp DE acquired a new stake in shares of Orchestra BioMed in the second quarter worth $103,000. AXQ Capital LP purchased a new position in shares of Orchestra BioMed during the 2nd quarter valued at about $110,000. Finally, Algert Global LLC boosted its position in 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 purchasing an additional 13,830 shares in the last quarter. 53.20% of the stock is currently owned by institutional investors.

Orchestra BioMed Company Profile

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.