Orchestra BioMed (NASDAQ:OBIO) Director Eric Fain Purchases 20,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric Fain acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $4.13 per share, with a total value of $82,600.00. Following the completion of the purchase, the director owned 91,709 shares in the company, valued at $378,758.17. The trade was a 27.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Orchestra BioMed Price Performance

Shares of OBIO opened at $3.98 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.03 and a quick ratio of 7.01. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.42. The stock has a fifty day moving average price of $4.28 and a 200 day moving average price of $4.27. The company has a market cap of $238.32 million, a P/E ratio of -4.10 and a beta of 0.52.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping 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 company had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.92 million. On average, research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.62 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on OBIO shares. Barclays boosted their price target on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Orchestra BioMed in a report on Thursday, May 14th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. Finally, Weiss Ratings lowered Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Orchestra BioMed currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Institutional Investors Weigh In On Orchestra BioMed

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

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.