Insider Buying: Orchestra BioMed (NASDAQ:OBIO) Insider Acquires 6,000 Shares of Stock

Key Points

• Insider David Hochman acquired 6,000 shares of Orchestra BioMed stock at an average price of $2.49, increasing his ownership by 0.93% to a total of 651,460 shares.
• Orchestra BioMed reported a quarterly earnings per share (EPS) of ($0.50), slightly beating analysts' expectations, while the company had revenue of $0.84 million during the same period.
• Analysts have mixed views on the stock, with a consensus rating of "Buy" and a target price of $14.00, though Barclays recently lowered its price objective from $16.00 to $12.00.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman acquired 6,000 shares of the stock in a transaction on Thursday, August 21st. The shares were acquired at an average price of $2.49 per share, with a total value of $14,940.00. Following the purchase, the insider owned 651,460 shares in the company, valued at $1,622,135.40. This represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Orchestra BioMed Stock Performance

Shares of OBIO traded up $0.05 during mid-day trading on Monday, hitting $2.60. The stock had a trading volume of 127,063 shares, compared to its average volume of 451,739. The company's fifty day simple moving average is $2.91 and its two-hundred day simple moving average is $3.35. The company has a debt-to-equity ratio of 48.76, a current ratio of 2.10 and a quick ratio of 2.09. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.37 and a fifty-two week high of $7.04.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.01. Orchestra BioMed had a negative return on equity of 289.42% and a negative net margin of 2,367.49%.The business had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.78 million. As a group, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd purchased a new position in shares of Orchestra BioMed during the second quarter valued at $31,000. Wells Fargo & Company MN grew its holdings in shares of Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after buying an additional 3,992 shares in the last quarter. Creative Planning purchased a new position in shares of Orchestra BioMed during the second quarter valued at $40,000. XTX Topco Ltd purchased a new position in Orchestra BioMed in the second quarter valued at about $45,000. Finally, Jane Street Group LLC purchased a new position in Orchestra BioMed in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 53.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on OBIO shares. Chardan Capital reissued a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, August 13th. BTIG Research reissued a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Finally, Barclays dropped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Orchestra BioMed has a consensus rating of "Buy" and a consensus target price of $14.00.

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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