Orchestra BioMed (NASDAQ:OBIO) Director Purchases $100,000.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric Fain acquired 20,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were bought at an average price of $5.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director owned 119,630 shares of the company’s stock, valued at approximately $598,150. This trade represents a 20.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Orchestra BioMed Stock Performance

NASDAQ:OBIO opened at $6.01 on Thursday. The stock’s fifty day moving average is $5.79 and its 200 day moving average is $4.60. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $6.50. The firm has a market capitalization of $369.33 million, a PE ratio of -8.01 and a beta of 0.56. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.13 million. Orchestra BioMed had a negative return on equity of 149.76% and a negative net margin of 182.50%. On average, sell-side analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Orchestra BioMed during the 2nd quarter valued at $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Orchestra BioMed in the 2nd quarter valued at $2,771,000. Rice Hall James & Associates LLC bought a new position in Orchestra BioMed in the 2nd quarter valued at $1,830,000. Flat Footed LLC purchased a new stake in Orchestra BioMed in the second quarter worth $1,084,670. Finally, Knott David M Jr increased its stake in Orchestra BioMed by 1.5% in the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after purchasing an additional 3,651 shares during the period. 53.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.