Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Buys 5,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 5,000 shares of Orchestra BioMed stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $3.83 per share, with a total value of $19,150.00. Following the completion of the acquisition, the insider owned 1,064,029 shares of the company’s stock, valued at $4,075,231.07. The trade was a 0.47% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Orchestra BioMed Stock Up 2.1%

Shares of OBIO stock opened at $3.91 on Wednesday. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.42. The stock has a market cap of $234.13 million, a P/E ratio of -4.03 and a beta of 0.50. 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 company has a 50 day simple moving average of $4.18 and a two-hundred day simple moving average of $4.28.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%. The business had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. On average, research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Orchestra BioMed

A number of hedge funds and other institutional investors have recently modified their holdings of OBIO. Bridgeway Capital Management LLC purchased a new position in Orchestra BioMed during the second quarter valued at $67,000. Bank of America Corp DE grew its stake in Orchestra BioMed by 35.7% during the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after acquiring an additional 5,678 shares in the last quarter. Virtu Financial LLC purchased a new position in Orchestra BioMed during the fourth quarter valued at $57,000. Jane Street Group LLC purchased a new position in Orchestra BioMed during the second quarter valued at $50,000. Finally, XTX Topco Ltd purchased a new position in Orchestra BioMed during the second quarter valued at $45,000. 53.20% of the stock is owned by hedge funds and other institutional investors.

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.