Orchestra BioMed (NASDAQ:OBIO) Insider Darren Sherman Sells 15,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total value of $74,100.00. Following the transaction, the insider directly owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darren Sherman also recently made the following trade(s):

• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The stock was purchased at an average cost of $5.33 per share, with a total value of $10,660.00.
• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.09, for a total value of $61,350.00.

Orchestra BioMed Trading Up 1.0%

NASDAQ OBIO opened at $4.95 on Thursday. The company has a market cap of $297.50 million, a price-to-earnings ratio of -5.82 and a beta of 0.54. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.20 and a 52 week high of $5.78. The business has a 50 day moving average price of $4.35 and a 200-day moving average price of $4.23. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80.

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

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently bought and sold shares of the stock. Creative Planning bought a new position in Orchestra BioMed during the 2nd quarter valued at $40,000. XTX Topco Ltd bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth $45,000. Jane Street Group LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth $50,000. Virtu Financial LLC purchased a new stake in shares of Orchestra BioMed in the fourth quarter valued at about $57,000. Finally, Bank of America Corp DE raised its holdings in shares of Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after purchasing an additional 5,678 shares during the last quarter. 53.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OBIO has been the topic of a number of recent research reports. B. Riley Financial dropped their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.00.

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.