Insider Selling: Orchestra BioMed (NASDAQ:OBIO) Insider Sells $74,100.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total value of $74,100.00. Following the completion of the transaction, the insider directly owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 26th, Darren Sherman purchased 2,000 shares of Orchestra BioMed stock. The stock was bought at an average cost of $5.33 per share, for a total transaction of $10,660.00.
• 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.

Orchestra BioMed Stock Up 7.2%

NASDAQ:OBIO opened at $5.08 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The company has a market capitalization of $305.31 million, a price-to-earnings ratio of -5.98 and a beta of 0.54. Orchestra BioMed Holdings, Inc. has a one year low of $2.20 and a one year high of $5.78. The stock has a 50-day simple moving average of $4.38 and a 200 day simple moving average of $4.25.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results 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 return on equity of 149.61% and a negative net margin of 184.60%.The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently made changes to their positions in OBIO. Rice Hall James & Associates LLC acquired a new stake in Orchestra BioMed in the 2nd quarter valued at approximately $1,830,000. Flat Footed LLC acquired a new position in Orchestra BioMed during the 2nd quarter worth $1,084,670. Simplify Asset Management Inc. acquired a new position in Orchestra BioMed during the 1st quarter worth $932,000. 683 Capital Management LLC bought a new position in shares of Orchestra BioMed in the fourth quarter worth $847,000. Finally, BlackRock Inc. bought a new position in shares of Orchestra BioMed in the second quarter worth $10,832,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OBIO has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. B. Riley Financial lowered their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Barclays boosted their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Finally, Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Orchestra BioMed has a consensus rating of “Moderate Buy” and an average price target of $13.00.

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.