Insider Buying: Orchestra BioMed (NASDAQ:OBIO) Insider Purchases $47,900.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman purchased 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average price of $4.79 per share, with a total value of $47,900.00. Following the transaction, the insider owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. The trade was a 0.94% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Orchestra BioMed Stock Up 6.6%

OBIO stock opened at $5.81 on Friday. The company’s 50 day moving average is $4.46 and its 200 day moving average is $4.29. The stock has a market cap of $349.18 million, a price-to-earnings ratio of -6.84 and a beta of 0.54. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80. Orchestra BioMed Holdings, Inc. has a 1-year low of $2.20 and a 1-year high of $6.08.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Orchestra BioMed by 93.6% in the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after purchasing an additional 17,100 shares during the period. AXQ Capital LP bought a new position in shares of Orchestra BioMed in the second quarter worth approximately $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Orchestra BioMed in the second quarter worth $2,771,000. Bank of America Corp DE purchased a new position in shares of Orchestra BioMed in the second quarter worth $103,000. Finally, Flat Footed LLC bought a new stake in Orchestra BioMed during the 2nd quarter valued at $1,084,670. 53.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OBIO has been the topic of several recent research reports. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. B. Riley Financial dropped their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Thursday, May 14th. Finally, Piper Sandler reissued an “overweight” rating and set a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Orchestra BioMed presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

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.