Orchestra BioMed (NASDAQ:OBIO) Insider Darren Sherman Buys 2,000 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman bought 2,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price of $5.33 per share, for a total transaction of $10,660.00. Following the completion of the purchase, the insider directly owned 2,000 shares in the company, valued at $10,660. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $61,350.00.
• On Monday, June 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $3.87, for a total transaction of $58,050.00.

Orchestra BioMed Stock Up 1.4%

OBIO stock opened at $5.18 on Friday. 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 52-week low of $2.20 and a 52-week high of $5.78. The company has a 50-day moving average of $4.29 and a two-hundred day moving average of $4.21. The stock has a market capitalization of $311.32 million, a price-to-earnings ratio of -6.09 and a beta of 0.50.

Orchestra BioMed (NASDAQ:OBIO) last posted 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. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. As a group, equities research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on OBIO. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Barclays raised their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Piper Sandler reissued an “overweight” rating and issued a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. Finally, HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a report on Thursday, May 14th. 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, Orchestra BioMed currently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Institutional Trading of Orchestra BioMed

Institutional investors have recently modified their holdings of the company. Flat Footed LLC acquired a new position in shares of Orchestra BioMed in the second quarter valued at $1,084,670. Rice Hall James & Associates LLC bought a new position in Orchestra BioMed in the second quarter worth $1,830,000. Simplify Asset Management Inc. acquired a new stake in Orchestra BioMed during the first quarter worth $932,000. 683 Capital Management LLC bought a new stake in Orchestra BioMed in the 4th quarter valued at $847,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at $2,771,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

About Orchestra BioMed

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.