David Hochman Purchases 10,000 Shares of Orchestra BioMed (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction on Thursday, September 3rd. The stock was bought at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the transaction, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock opened at $5.45 on Thursday. The business has a 50-day simple moving average of $4.43 and a 200-day simple moving average of $4.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. Orchestra BioMed Holdings, Inc. has a one year low of $2.20 and a one year high of $5.78. The company has a market cap of $327.55 million, a PE ratio of -6.41 and a beta of 0.54.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $0.14 million. On average, equities research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OBIO. Wall Street Zen downgraded Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a report on Thursday, May 14th. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. B. Riley Financial cut their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Institutional Trading of Orchestra BioMed

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning purchased a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $40,000. XTX Topco Ltd purchased a new position in Orchestra BioMed during the 2nd quarter worth approximately $45,000. Jane Street Group LLC acquired a new position in Orchestra BioMed during the second quarter worth approximately $50,000. Virtu Financial LLC purchased a new stake in Orchestra BioMed in the fourth quarter valued at approximately $57,000. Finally, Bank of America Corp DE lifted its stake in Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after buying an additional 5,678 shares during the last quarter. 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.