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 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 transaction of $74,100.00. Following the completion of the transaction, the insider owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 Wednesday, August 26th, Darren Sherman purchased 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.
• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.09, for a total transaction of $61,350.00.

Orchestra BioMed Stock Up 1.0%

OBIO stock traded up $0.05 during midday trading on Wednesday, hitting $4.95. The company’s stock had a trading volume of 240,379 shares, compared to its average volume of 263,339. The company has a market cap of $297.52 million, a PE ratio of -5.82 and a beta of 0.54. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80. The firm’s 50-day moving average is $4.33 and its 200-day moving average is $4.23.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, August 10th. The company reported ($0.38) 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 business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.14 million. On average, equities research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Orchestra BioMed in the 2nd quarter worth about $10,832,000. Alyeska Investment Group L.P. bought a new position in shares of Orchestra BioMed during the third quarter valued at approximately $3,386,000. Pathstone Holdings LLC purchased a new stake in shares of Orchestra BioMed in the third quarter worth approximately $2,495,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Orchestra BioMed in the second quarter worth approximately $2,771,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Orchestra BioMed during the 2nd quarter worth approximately $1,830,000. 53.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.