Insider Buying: Orchestra BioMed (NASDAQ:OBIO) Insider Acquires $10,660.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman acquired 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $5.33 per share, with a total value of $10,660.00. Following the acquisition, the insider owned 2,000 shares in the company, valued at approximately $10,660. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.09, for a total value of $61,350.00.
• On Monday, June 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $3.87, for a total value of $58,050.00.

Orchestra BioMed Trading Down 0.2%

Shares of NASDAQ:OBIO opened at $5.18 on Monday. Orchestra BioMed Holdings, Inc. has a 12-month low of $2.20 and a 12-month high of $5.78. The company has a market capitalization of $311.32 million, a PE ratio of -6.09 and a beta of 0.50. The business has a 50 day moving average of $4.29 and a two-hundred day moving average of $4.21. 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 issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. As a group, analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OBIO shares. Barclays lifted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research note on Thursday, May 14th. Wall Street Zen cut Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. Finally, B. Riley Financial reduced their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in OBIO. Virtu Financial LLC purchased a new position in Orchestra BioMed during the fourth quarter valued at $57,000. Creative Planning purchased a new stake in shares of Orchestra BioMed during the second quarter worth about $40,000. XTX Topco Ltd purchased a new stake in shares of Orchestra BioMed during the second quarter worth about $45,000. Balyasny Asset Management L.P. acquired a new position in shares of Orchestra BioMed during the 4th quarter worth about $76,000. Finally, Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth about $50,000. Hedge funds and other 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.