Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Purchases 10,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman acquired 10,000 shares of Orchestra BioMed stock in a transaction on Friday, March 13th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the insider owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Orchestra BioMed Trading Up 8.3%

OBIO stock opened at $4.55 on Tuesday. The firm has a fifty day moving average price of $4.19 and a 200 day moving average price of $3.87. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.43 and a current ratio of 6.45. The firm has a market cap of $266.27 million, a PE ratio of -4.03 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.64. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%. The company had revenue of $30.92 million for the quarter, compared to the consensus estimate of $0.93 million. Sell-side analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Orchestra BioMed during the 4th quarter valued at about $57,000. XTX Topco Ltd raised its position in Orchestra BioMed by 44.6% in the 4th quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock worth $209,000 after purchasing an additional 15,540 shares during the period. Balyasny Asset Management L.P. bought a new stake in Orchestra BioMed in the fourth quarter worth about $76,000. 683 Capital Management LLC bought a new stake in Orchestra BioMed in the fourth quarter worth about $847,000. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Orchestra BioMed during the fourth quarter valued at approximately $397,000. 53.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OBIO shares. Barclays upped their target price on shares of Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Thursday, March 12th. TD Cowen initiated coverage on Orchestra BioMed in a research report on Wednesday, December 10th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Orchestra BioMed from a “strong sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.80.

Orchestra BioMed Company Profile

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.