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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 5,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were purchased at an average price of $5.00 per share, with a total value of $25,000.00. Following the transaction, the insider owned 437,916 shares of the company’s stock, valued at $2,189,580. The trade was a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Orchestra BioMed Trading Up 4.9%

Shares of OBIO opened at $6.01 on Thursday. The stock’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $4.60. The firm has a market capitalization of $369.33 million, a PE ratio of -8.01 and a beta of 0.56. Orchestra BioMed Holdings, Inc. has a 12-month low of $3.46 and a 12-month 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 announced its quarterly earnings data on Tuesday, November 10th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Orchestra BioMed had a negative return on equity of 149.76% and a negative net margin of 182.50%. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. As a group, research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Institutional Trading of Orchestra BioMed

A number of hedge funds have recently modified their holdings of the company. HighTower Advisors LLC grew its holdings in Orchestra BioMed by 8.7% during the third quarter. HighTower Advisors LLC now owns 38,462 shares of the company’s stock valued at $239,000 after purchasing an additional 3,087 shares during the period. Daytona Street Capital LLC raised its holdings in Orchestra BioMed by 27.7% in the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock worth $744,000 after purchasing an additional 26,750 shares during the period. AXQ Capital LP bought a new position in shares of Orchestra BioMed during the second quarter worth $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orchestra BioMed during the second quarter worth $2,771,000. Finally, Bank of America Corp DE bought a new position in shares of Orchestra BioMed during the second quarter worth $103,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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