Orchestra BioMed (NASDAQ:OBIO) Insider Sells $58,050.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $3.87, for a total value of $58,050.00. Following the transaction, the insider directly owned 1,184,327 shares of the company’s stock, valued at $4,583,345.49. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Orchestra BioMed Stock Up 1.0%

Shares of OBIO stock traded up $0.04 on Tuesday, hitting $3.87. 292,725 shares of the stock were exchanged, compared to its average volume of 252,075. The company has a current ratio of 7.03, a quick ratio of 7.01 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $231.62 million, a P/E ratio of -3.89 and a beta of 0.51. The business has a 50-day moving average of $4.18 and a 200 day moving average of $4.28. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.07. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. Equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Orchestra BioMed by 200.7% in the 1st quarter. Bank of America Corp DE now owns 52,761 shares of the company’s stock valued at $224,000 after purchasing an additional 35,214 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Orchestra BioMed in the 1st quarter valued at $81,000. Knott David M Jr boosted its holdings in shares of Orchestra BioMed by 1.5% in the 1st 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. Simplify Asset Management Inc. acquired a new stake in shares of Orchestra BioMed during the 1st quarter valued at $932,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Orchestra BioMed during the 1st quarter valued at $96,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays upped their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. B. Riley Financial dropped their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Thursday, March 12th. Finally, Weiss Ratings lowered Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Orchestra BioMed has an average rating of “Moderate Buy” and an average price target of $13.60.

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.