Orchestra BioMed (NASDAQ:OBIO) Insider Darren Sherman Sells 15,000 Shares of Company Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $6.36, for a total transaction of $95,400.00. Following the transaction, the insider owned 1,119,402 shares of the company’s stock, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.94, for a total value of $74,100.00.
• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were bought at an average price of $5.33 per share, with a total value of $10,660.00.
• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.09, for a total value of $61,350.00.

Orchestra BioMed Stock Performance

Shares of OBIO stock traded down $0.40 on Friday, hitting $5.95. The company had a trading volume of 421,089 shares, compared to its average volume of 276,827. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.66 and a twelve 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 firm has a market cap of $357.60 million, a P/E ratio of -7.00 and a beta of 0.52. The company has a 50-day moving average price of $5.13 and a 200-day moving average price of $4.47.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. As a group, equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Orchestra BioMed in the 2nd quarter worth $2,771,000. Rice Hall James & Associates LLC acquired a new position in Orchestra BioMed during the second quarter worth $1,830,000. Flat Footed LLC acquired a new position in Orchestra BioMed during the second quarter worth $1,084,670. Finally, Knott David M Jr lifted its holdings in Orchestra BioMed by 1.5% during the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after purchasing an additional 3,651 shares in the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. B. Riley Financial increased their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Finally, Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Orchestra BioMed currently has an average rating of “Moderate Buy” and an average price target of $13.17.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage healthcare company developing products for the treatment of cardiovascular and other serious medical conditions. The company uses a partnership-oriented business model, working with medical device and healthcare companies to advance novel therapies toward commercialization.

Orchestra BioMed’s leading program is BackBeat Cardiac Neuromodulation Therapy, an investigational device-based treatment designed to provide sustained reductions in blood pressure for patients with hypertension.