Insider Buying: Orchestra BioMed (NASDAQ:OBIO) Insider Buys 10,000 Shares of Stock

Key Points

• Insider buying: David Hochman purchased 10,000 Orchestra BioMed shares at an average price of $4.79, investing $47,900 and increasing his direct ownership to 1,070,746 shares.
• Financial performance: Orchestra BioMed reported a quarterly loss of $0.38 per share, slightly better than analysts’ $0.39 estimate, but revenue of $0.09 million fell short of the $0.14 million consensus.
• Analyst and institutional sentiment: Analysts maintain a “Moderate Buy” consensus with a $13 price target, while institutional investors own 53.2% of the company’s stock.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman purchased 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were bought at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the purchase, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Orchestra BioMed Stock Performance

Shares of OBIO stock opened at $5.08 on Tuesday. The stock's 50-day moving average is $4.39 and its two-hundred day moving average is $4.26. 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 Holdings, Inc. has a 1 year low of $2.20 and a 1 year high of $5.78. The firm has a market cap of $305.31 million, a price-to-earnings ratio of -5.98 and a beta of 0.54.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. Analysts predict that Orchestra BioMed Holdings, Inc. will post -1.54 earnings per share for the current year.

Analysts Set New Price Targets

OBIO has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Orchestra BioMed in a research note on Friday, July 17th. B. Riley Financial dropped their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen lowered shares of Orchestra BioMed from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Barclays boosted their target price on Orchestra BioMed from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $10.00 price target on shares of Orchestra BioMed in a report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Orchestra BioMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Orchestra BioMed in the 2nd quarter valued at about $10,832,000. Vanguard Group Inc. lifted its holdings in shares of Orchestra BioMed by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company's stock valued at $3,675,000 after acquiring an additional 324,558 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Orchestra BioMed in the third quarter worth about $3,386,000. Pathstone Holdings LLC purchased a new position in Orchestra BioMed in the 3rd quarter worth approximately $2,495,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Orchestra BioMed in the second quarter valued at $2,771,000. Hedge funds and other institutional investors own 53.20% of the company's stock.

About Orchestra BioMed

Orchestra BioMed, Inc NASDAQ: OBIO is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company's research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed's pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.

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