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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $4.07 per share, for a total transaction of $20,350.00. Following the completion of the transaction, the insider directly owned 612,822 shares in the company, valued at approximately $2,494,185.54. The trade was a 0.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Orchestra BioMed Stock Performance

OBIO traded up $0.19 on Monday, reaching $4.13. The company had a trading volume of 324,834 shares, compared to its average volume of 298,349. The stock has a 50-day moving average price of $3.21 and a 200-day moving average price of $3.00. The stock has a market capitalization of $233.22 million, a PE ratio of -2.27 and a beta of 0.65. Orchestra BioMed Holdings, Inc. has a 1 year low of $2.20 and a 1 year high of $6.30. The company has a quick ratio of 4.72, a current ratio of 4.73 and a debt-to-equity ratio of 0.32.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, November 10th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.74 million. Orchestra BioMed had a negative return on equity of 320.09% and a negative net margin of 2,665.05%. As a group, research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Institutional Trading of Orchestra BioMed

A number of institutional investors have recently bought and sold shares of OBIO. Citadel Advisors LLC increased its position in shares of Orchestra BioMed by 9.2% in the third quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock valued at $134,000 after buying an additional 4,561 shares in the last quarter. Bank of America Corp DE grew its stake in Orchestra BioMed by 35.7% in the 2nd 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 during the last quarter. Deutsche Bank AG increased its holdings in Orchestra BioMed by 67.3% during the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company’s stock valued at $87,000 after acquiring an additional 8,134 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $31,000. Finally, Creative Planning acquired a new position in Orchestra BioMed during the second quarter worth about $40,000. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OBIO has been the topic of a number of recent research reports. Barclays cut their target price on shares of Orchestra BioMed from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. BTIG Research reaffirmed a “neutral” rating on shares of Orchestra BioMed in a report on Wednesday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Wednesday, October 8th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday. Finally, HC Wainwright cut their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Orchestra BioMed presently has an average rating of “Moderate Buy” and an average target price of $13.25.

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.