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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David Hochman bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the transaction, the insider owned 1,086,467 shares of the company’s stock, valued at $4,660,943.43. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Orchestra BioMed Trading Up 1.3%

Orchestra BioMed stock opened at $4.61 on Wednesday. The business has a 50 day moving average price of $4.20 and a two-hundred day moving average price of $3.88. The company has a quick ratio of 6.43, a current ratio of 6.45 and a debt-to-equity ratio of 0.27. The stock has a market cap of $269.78 million, a price-to-earnings ratio of -4.08 and a beta of 0.56. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Thursday, March 12th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.64. Orchestra BioMed had a negative return on equity of 184.17% and a negative net margin of 157.40%.The company had revenue of $30.92 million during the quarter, compared to the consensus estimate of $0.93 million. As a group, equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of OBIO. Vanguard Group Inc. grew its position in Orchestra BioMed by 28.0% in the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock valued at $3,675,000 after acquiring an additional 324,558 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Orchestra BioMed during the third quarter valued at $3,386,000. Pathstone Holdings LLC bought a new position in shares of Orchestra BioMed during the third quarter valued at $2,495,000. Geode Capital Management LLC boosted its stake in shares of Orchestra BioMed by 22.4% in the 4th quarter. Geode Capital Management LLC now owns 473,363 shares of the company’s stock valued at $1,965,000 after purchasing an additional 86,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Orchestra BioMed by 46.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,788 shares of the company’s stock valued at $1,095,000 after purchasing an additional 83,349 shares in the last quarter. Institutional investors own 53.20% of the company’s stock.

Wall Street Analyst Weigh In

OBIO has been the topic of a number of recent research reports. Barclays lifted their price target on shares of Orchestra BioMed from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. TD Cowen initiated coverage on shares of Orchestra BioMed in a research note on Wednesday, December 10th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a report on Saturday. Finally, Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Thursday, March 12th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

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.