Orchestra BioMed (NASDAQ:OBIO) Director Acquires 20,000 Shares of Company Stock

Key Points

• Director Eric Fain bought 20,000 shares at $5 each for $100,000, increasing his direct stake by 20.07% to 119,630 shares.
• Analysts give Orchestra BioMed a “Moderate Buy” consensus, with an average price target of $13.17; six analysts rate it Buy and one rates it Sell.
• The stock traded at $5.70, within its 52-week range of $3.46–$6.50. In its latest reported quarter, the company’s loss per share was slightly better than estimates, though revenue fell short.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) Director Eric Fain acquired 20,000 shares of the business's stock in a transaction on Monday, November 9th. The stock was acquired at an average price of $5.00 per share, with a total value of $100,000.00. Following the transaction, the director directly owned 119,630 shares of the company's stock, valued at $598,150. This represents a 20.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Orchestra BioMed Price Performance

Orchestra BioMed stock traded up $0.02 during midday trading on Monday, reaching $5.70. The company's stock had a trading volume of 781,799 shares, compared to its average volume of 290,898. The firm has a market capitalization of $342.60 million, a PE ratio of -6.71 and a beta of 0.56. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $6.50. The stock's 50 day simple moving average is $5.74 and its 200 day simple moving average is $4.57. 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 (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.01. The business had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. On average, equities research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler reissued an "overweight" rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Friday, October 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Monday, October 5th. Weiss Ratings upgraded shares of Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 10th. Finally, B. Riley Financial lifted their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a research report on Tuesday, September 15th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Orchestra BioMed presently has a consensus rating of "Moderate Buy" and an average target price of $13.17.

Institutional Trading of Orchestra BioMed

Several large investors have recently bought and sold shares of the company. Rice Hall James & Associates LLC purchased a new stake in shares of Orchestra BioMed in the 1st quarter worth about $81,000. Canada Pension Plan Investment Board purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $91,000. Bank of America Corp DE purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $103,000. AXQ Capital LP purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $110,000. Finally, Algert Global LLC raised its position in Orchestra BioMed by 94.4% during the second quarter. Algert Global LLC now owns 28,486 shares of the company's stock worth $123,000 after acquiring an additional 13,830 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company's stock.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.

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