David P. Hochman Purchases 20,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Key Points

• David P. Hochman, an insider at Orchestra BioMed Holdings, Inc., purchased 20,000 shares of the company at an average cost of $2.75 per share, increasing his ownership by 6.07%.
• Orchestra BioMed's stock price surged 9.8% to $2.68 during trading, with a total of 544,615 shares exchanged, surpassing its average trading volume.
• Analysts have a consensus rating of "Buy" for Orchestra BioMed, with price targets ranging from $12.00 to $20.00, illustrating positive sentiment towards the stock.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David P. Hochman acquired 20,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was acquired at an average cost of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the purchase, the insider directly owned 349,331 shares in the company, valued at $960,660.25. This trade represents a 6.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Orchestra BioMed Stock Up 9.8%

OBIO stock traded up $0.24 during trading on Monday, reaching $2.68. 544,615 shares of the stock were exchanged, compared to its average volume of 284,759. The firm's 50 day moving average is $3.05 and its 200 day moving average is $3.65. Orchestra BioMed Holdings, Inc. has a twelve month low of $2.37 and a twelve month high of $7.04. The company has a current ratio of 3.35, a quick ratio of 3.34 and a debt-to-equity ratio of 0.85. The firm has a market cap of $102.68 million, a P/E ratio of -1.51 and a beta of 0.62.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). Orchestra BioMed had a negative return on equity of 189.26% and a negative net margin of 2,297.85%. The firm had revenue of $0.87 million for the quarter, compared to analyst estimates of $0.39 million. As a group, research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Analysts Set New Price Targets

OBIO has been the topic of a number of recent analyst reports. HC Wainwright reissued a "buy" rating on shares of Orchestra BioMed in a research note on Wednesday, April 23rd. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Tuesday, May 13th. Finally, Barclays dropped their price target on Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $14.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its holdings in Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock worth $148,000 after purchasing an additional 3,704 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Orchestra BioMed by 43.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after acquiring an additional 3,992 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Orchestra BioMed by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock valued at $2,290,000 after acquiring an additional 5,222 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Orchestra BioMed by 2.5% in the fourth quarter. Northern Trust Corp now owns 236,761 shares of the company's stock valued at $947,000 after acquiring an additional 5,725 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Orchestra BioMed by 18.9% in the fourth quarter. Barclays PLC now owns 37,786 shares of the company's stock valued at $152,000 after acquiring an additional 6,001 shares in the last quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company's flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.

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