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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $5.74, for a total value of $86,100.00. Following the sale, the insider directly owned 1,104,402 shares of the company’s stock, valued at $6,339,267.48. The trade was a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $6.36, for a total value of $95,400.00.
• On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.94, for a total transaction of $74,100.00.
• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were purchased at an average cost of $5.33 per share, with a total value of $10,660.00.

Orchestra BioMed Stock Performance

Shares of NASDAQ OBIO traded down $0.13 during trading hours on Tuesday, hitting $5.56. 273,209 shares of the stock were exchanged, compared to its average volume of 281,640. Orchestra BioMed Holdings, Inc. has a one year low of $3.46 and a one year high of $6.50. The company’s 50 day moving average is $5.71 and its 200 day moving average is $4.55. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The firm has a market capitalization of $334.18 million, a P/E ratio of -6.54 and a beta of 0.52.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Daytona Street Capital LLC raised its position in shares of 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 buying an additional 26,750 shares during the last quarter. HighTower Advisors LLC grew its position in Orchestra BioMed by 93.6% during the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after buying an additional 17,100 shares in the last quarter. AXQ Capital LP acquired a new stake in Orchestra BioMed during the second quarter worth about $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Orchestra BioMed during the second quarter worth about $2,771,000. Finally, Bank of America Corp DE bought a new position in Orchestra BioMed during the second quarter valued at about $103,000. Institutional investors own 53.20% of the company’s stock.

Analysts Set New Price Targets

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

Orchestra BioMed Company Profile

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.