Orchestra BioMed (NASDAQ:OBIO) Insider Sells $95,400.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of Orchestra BioMed stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the completion of the sale, the insider owned 1,119,402 shares of the company’s stock, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 bought 2,000 shares of Orchestra BioMed stock. The stock was bought at an average price of $5.33 per share, for a total transaction 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 Performance

NASDAQ:OBIO opened at $5.95 on Monday. The company has a market cap of $357.60 million, a PE ratio of -7.00 and a beta of 0.52. 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 company has a 50 day simple moving average of $5.18 and a two-hundred day simple moving average of $4.48. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.66 and a 12 month high of $6.50.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. Research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC purchased a new position in Orchestra BioMed during the first quarter valued at approximately $81,000. Canada Pension Plan Investment Board purchased a new stake in shares of Orchestra BioMed in the second quarter worth $91,000. Cannon Global Investment Management LLC bought a new stake in shares of Orchestra BioMed during the 1st quarter valued at $96,000. Bank of America Corp DE bought a new stake in shares of Orchestra BioMed during the 2nd quarter valued at $103,000. Finally, AXQ Capital LP purchased a new position in shares of Orchestra BioMed during the 2nd quarter valued at $110,000. 53.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on OBIO. Weiss Ratings raised Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Finally, B. Riley Financial increased their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biomedical innovation company that develops transformative therapies and medical devices for patients with cardiovascular and other serious medical conditions. The company uses a partnership-driven business model, collaborating with medical device and pharmaceutical companies to advance products through clinical development and toward commercialization.

Its lead programs include Virtue SAB, an investigational drug-device combination designed to deliver sirolimus to the vessel wall without the use of a permanent drug-eluting implant.