David Hochman Purchases 6,000 Shares of Orchestra BioMed (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman acquired 6,000 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were bought at an average price of $2.49 per share, with a total value of $14,940.00. Following the completion of the transaction, the insider directly owned 651,460 shares of the company’s stock, valued at approximately $1,622,135.40. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Orchestra BioMed Price Performance

Orchestra BioMed stock opened at $3.00 on Wednesday. The company has a market capitalization of $115.92 million, a price-to-earnings ratio of -1.64 and a beta of 0.62. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.37 and a 12 month high of $7.04. The stock’s 50 day moving average is $2.89 and its 200-day moving average is $3.33.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.01. Orchestra BioMed had a negative return on equity of 289.42% and a negative net margin of 2,367.49%.The business had revenue of $0.84 million during the quarter, compared to analysts’ expectations of $0.78 million. Equities research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds have recently bought and sold shares of OBIO. JPMorgan Chase & Co. raised its position in shares of Orchestra BioMed by 354.5% in the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock valued at $198,000 after buying an additional 38,535 shares in the last quarter. Geode Capital Management LLC increased its stake in Orchestra BioMed by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock valued at $2,290,000 after acquiring an additional 5,222 shares during the last quarter. Wells Fargo & Company MN raised its position in Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after purchasing an additional 3,992 shares in the last quarter. Barclays PLC raised its position in Orchestra BioMed by 18.9% during the fourth quarter. Barclays PLC now owns 37,786 shares of the company’s stock valued at $152,000 after purchasing an additional 6,001 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Orchestra BioMed by 11.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after purchasing an additional 3,704 shares during the last quarter. 53.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. BTIG Research restated a “neutral” rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, August 13th. Finally, Barclays dropped their price target on shares of Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Orchestra BioMed presently has a consensus rating of “Buy” and an average target price of $14.00.

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.