Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Acquires 20,000 Shares of 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 purchased 20,000 shares of Orchestra BioMed stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $2.75 per share, with a total value of $55,000.00. Following the completion of the purchase, the insider directly owned 349,331 shares of the company's stock, valued at approximately $960,660.25. This trade represents a 6.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Orchestra BioMed Stock Up 6.2%

OBIO stock traded up $0.16 during mid-day trading on Friday, reaching $2.76. 525,561 shares of the company traded hands, compared to its average volume of 291,789. The company has a quick ratio of 3.34, a current ratio of 3.35 and a debt-to-equity ratio of 0.85. The firm's 50 day moving average price is $3.04 and its 200 day moving average price is $3.60. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $7.04. The stock has a market cap of $106.65 million, a price-to-earnings ratio of -1.55 and a beta of 0.62.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Thursday. Barclays lowered their price target on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $14.00.

Institutional Trading of Orchestra BioMed

Large investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new position in Orchestra BioMed in the second quarter valued at $122,000. Nuveen LLC purchased a new stake in shares of Orchestra BioMed during the 1st quarter worth $179,000. Deutsche Bank AG increased its holdings in shares of Orchestra BioMed by 67.3% in the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company's stock valued at $87,000 after acquiring an additional 8,134 shares during the last quarter. IFP Advisors Inc increased its position in shares of Orchestra BioMed by 106.4% during the first quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after purchasing an additional 83,481 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Orchestra BioMed in the 4th quarter valued at $86,000. Hedge funds and other institutional investors own 53.20% of the company's stock.

Orchestra BioMed Company Profile

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.