Insider Selling: Orchestra BioMed (NASDAQ:OBIO) Insider Sells $74,100.00 in Stock

Key Points

• Insider sale: Darren Sherman sold 15,000 Orchestra BioMed shares for $74,100 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 1.31% to 1,134,402 shares.
• Stock and financial performance: OBIO rose 1.0% to $4.95, while its latest quarterly loss of $0.38 per share slightly beat analyst expectations; revenue was $0.09 million.
• Analyst outlook: Despite mixed ratings, six analysts rate the stock Buy versus one Sell, resulting in a “Moderate Buy” consensus and a $13.00 average price target.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total value of $74,100.00. Following the transaction, the insider owned 1,134,402 shares of the company's stock, valued at approximately $5,603,945.88. This represents a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Darren Sherman also recently made the following trade(s):

• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were bought at an average cost of $5.33 per share, for a total transaction of $10,660.00.
• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.09, for a total transaction of $61,350.00.

Orchestra BioMed Trading Up 1.0%

Shares of OBIO traded up $0.05 during trading hours on Wednesday, reaching $4.95. 240,379 shares of the company traded hands, compared to its average volume of 263,339. The company's fifty day moving average price is $4.33 and its two-hundred day moving average price is $4.23. The company has a market capitalization of $297.52 million, a price-to-earnings ratio of -5.82 and a beta of 0.54. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78.

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. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

OBIO has been the subject of a number of research analyst reports. Wall Street Zen cut Orchestra BioMed from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Orchestra BioMed in a report on Thursday, May 14th. Weiss Ratings reissued a "sell (e+)" rating on shares of Orchestra BioMed in a research report on Friday, July 17th. B. Riley Financial dropped their target price on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Finally, Barclays upped their target price on shares of Orchestra BioMed from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in OBIO. BlackRock Inc. bought a new stake in Orchestra BioMed in the second quarter worth $10,832,000. Alyeska Investment Group L.P. bought a new position in shares of Orchestra BioMed during the third quarter valued at $3,386,000. Pathstone Holdings LLC purchased a new position in shares of Orchestra BioMed in the 3rd quarter worth about $2,495,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter worth about $2,771,000. Finally, Rice Hall James & Associates LLC bought a new position in Orchestra BioMed in the 2nd quarter worth about $1,830,000. Hedge funds and other institutional investors own 53.20% of the company's stock.

Orchestra BioMed Company Profile

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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