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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $3.87, for a total value of $58,050.00. Following the completion of the transaction, the insider owned 1,184,327 shares of the company’s stock, valued at $4,583,345.49. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Orchestra BioMed Trading Down 1.3%

NASDAQ:OBIO opened at $3.86 on Thursday. The company has a quick ratio of 7.01, a current ratio of 7.03 and a debt-to-equity ratio of 0.35. Orchestra BioMed Holdings, Inc. has a 1-year low of $2.20 and a 1-year high of $5.42. The firm has a market capitalization of $231.14 million, a price-to-earnings ratio of -3.98 and a beta of 0.50. The stock has a fifty day simple moving average of $4.14 and a 200 day simple moving average of $4.27.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating 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 business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.92 million. Sell-side analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on OBIO shares. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Thursday, March 12th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research report on Thursday, May 14th. Wall Street Zen lowered Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings lowered Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Finally, Barclays raised their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.60.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Orchestra BioMed by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock valued at $3,675,000 after buying an additional 324,558 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Orchestra BioMed during the 3rd quarter valued at about $3,386,000. Pathstone Holdings LLC acquired a new stake in shares of Orchestra BioMed during the 3rd quarter valued at about $2,495,000. Geode Capital Management LLC lifted its holdings in shares of Orchestra BioMed by 22.4% during the 4th quarter. Geode Capital Management LLC now owns 473,363 shares of the company’s stock valued at $1,965,000 after buying an additional 86,564 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Orchestra BioMed by 46.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,788 shares of the company’s stock valued at $1,095,000 after buying an additional 83,349 shares during the last quarter. 53.20% of the stock is currently 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.