Orchestra BioMed (NASDAQ:OBIO) Stock: Insider David Pacitti Acquires 20,000 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director David Pacitti acquired 20,000 shares of Orchestra BioMed stock in a transaction dated Monday, November 9th. The stock was purchased at an average cost of $5.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director owned 74,750 shares of the company’s stock, valued at approximately $373,750. This represents a 36.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Orchestra BioMed Price Performance

Shares of OBIO stock traded up $0.02 on Monday, hitting $5.70. 781,799 shares of the stock traded hands, compared to its average volume of 290,898. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. Orchestra BioMed Holdings, Inc. has a 52 week low of $3.46 and a 52 week high of $6.50. The firm has a 50 day simple moving average of $5.74 and a two-hundred day simple moving average of $4.57. The firm has a market cap of $342.60 million, a price-to-earnings ratio of -6.71 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Daytona Street Capital LLC grew its stake in Orchestra BioMed by 27.7% during the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock valued at $744,000 after acquiring an additional 26,750 shares in the last quarter. HighTower Advisors LLC increased its holdings in Orchestra BioMed by 93.6% in the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock valued at $153,000 after acquiring an additional 17,100 shares during the last quarter. AXQ Capital LP purchased a new stake in Orchestra BioMed in the 2nd quarter worth $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Orchestra BioMed in the 2nd quarter worth $2,771,000. Finally, Bank of America Corp DE purchased a new stake in Orchestra BioMed in the 2nd quarter worth $103,000. Institutional investors own 53.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OBIO shares. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Friday, October 23rd. B. Riley Financial increased their target price on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Piper Sandler reiterated an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Weiss Ratings raised Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a report on Monday, October 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Orchestra BioMed presently has an average rating of “Moderate Buy” and an average price target of $13.17.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.