Orchestra BioMed (NASDAQ:OBIO) Stock: Insider David Pacitti Purchases 20,000 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director David Pacitti bought 20,000 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was acquired at an average cost of $5.00 per share, with a total value of $100,000.00. Following the transaction, the director owned 74,750 shares in the company, valued at $373,750. The trade was a 36.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Orchestra BioMed Stock Performance

OBIO traded up $0.02 during midday trading on Monday, hitting $5.70. 781,799 shares of the company traded hands, compared to its average volume of 290,898. The company’s 50-day moving average is $5.74 and its 200 day moving average is $4.57. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $342.60 million, a PE ratio of -6.71 and a beta of 0.56. Orchestra BioMed Holdings, Inc. has a 52 week low of $3.46 and a 52 week high of $6.50.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly 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. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates 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.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Orchestra BioMed in the second quarter worth about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $2,771,000. Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $1,830,000. Flat Footed LLC purchased a new stake in Orchestra BioMed in the 2nd quarter worth approximately $1,084,670. Finally, Bank of New York Mellon Corp purchased a new stake in Orchestra BioMed in the 2nd quarter worth approximately $372,000. 53.20% of the stock is currently owned by institutional investors.

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.