David P. Hochman Buys 5,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $4.91 per share, for a total transaction of $24,550.00. Following the purchase, the insider now owns 575,498 shares in the company, valued at $2,825,695.18. This trade represents a 0.88 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Orchestra BioMed Price Performance

OBIO stock opened at $4.92 on Friday. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $10.44. The stock has a market capitalization of $187.03 million, a price-to-earnings ratio of -3.06 and a beta of 0.44. The business’s fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.24.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. Research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OBIO. Chardan Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a report on Friday, November 15th.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its stake in Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares during the period. Geode Capital Management LLC grew its holdings in shares of Orchestra BioMed by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after purchasing an additional 11,002 shares in the last quarter. State Street Corp increased its position in shares of Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the period. RTW Investments LP raised its stake in Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after purchasing an additional 2,585,519 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Orchestra BioMed by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after purchasing an additional 8,107 shares during the period. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.