Orchestra BioMed (NASDAQ:OBIO) Director Eric Fain Buys 20,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric Fain bought 20,000 shares of the stock in a transaction dated Monday, November 9th. The stock was purchased at an average price of $5.00 per share, with a total value of $100,000.00. Following the acquisition, the director directly owned 119,630 shares in the company, valued at approximately $598,150. The trade was a 20.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Orchestra BioMed Stock Up 0.4%

OBIO stock opened at $5.70 on Tuesday. 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. The company has a 50-day moving average price of $5.75 and a 200 day moving average price of $4.58.

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, topping 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 company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. On average, equities analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OBIO has been the topic of a number of analyst reports. B. Riley Financial upped their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company 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 note on Thursday, October 15th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a report on Monday, October 5th. Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Friday, October 23rd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.17.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors and 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 during the first quarter valued at approximately $81,000. Canada Pension Plan Investment Board purchased a new stake in shares of Orchestra BioMed in the second quarter valued at approximately $91,000. Bank of America Corp DE bought a new position in Orchestra BioMed in the second quarter worth approximately $103,000. AXQ Capital LP bought a new position in Orchestra BioMed in the second quarter worth approximately $110,000. Finally, Algert Global LLC increased its holdings in Orchestra BioMed by 94.4% during 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 during the period. Institutional investors own 53.20% of the company’s stock.

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.