Insider Selling: 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 stock in a transaction dated Monday, June 1st. The shares were 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 in the company, valued at approximately $4,583,345.49. This represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Orchestra BioMed Stock Up 3.4%

Shares of OBIO stock opened at $3.99 on Friday. The stock’s 50 day simple moving average is $4.13 and its 200 day simple moving average is $4.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.20 and a twelve month high of $5.42. The company has a market capitalization of $238.92 million, a price-to-earnings ratio of -4.11 and a beta of 0.50.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.92 million. As a group, research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently made changes to their positions in OBIO. Bank of America Corp DE grew its position in shares of Orchestra BioMed by 42.0% in the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after purchasing an additional 7,036 shares during the last quarter. Creative Planning acquired a new stake in shares of Orchestra BioMed in the second quarter valued at about $40,000. XTX Topco Ltd acquired a new stake in shares of Orchestra BioMed in the second quarter valued at about $45,000. Marshall Wace LLP acquired a new stake in Orchestra BioMed during the second quarter worth about $133,000. Finally, NewEdge Advisors LLC acquired a new stake in Orchestra BioMed during the second quarter worth about $118,000. 53.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OBIO. Wall Street Zen downgraded Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a research report on Thursday, May 14th. B. Riley Financial lowered their price target on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, Barclays raised their price target on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Orchestra BioMed currently has an average rating of “Moderate Buy” and a consensus target price 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.