Orchestra BioMed (NASDAQ:OBIO) Insider Darren Sherman Sells 15,000 Shares of Stock

Key Points

• Orchestra BioMed insider Darren Sherman sold 15,000 shares for $86,100 at an average price of $5.74 under a pre-arranged Rule 10b5-1 plan; he retained 1,104,402 shares.
• OBIO shares fell 2.3% to $5.56 in Tuesday trading. The company’s latest reported quarter beat EPS estimates by one cent but revenue came in below expectations.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $13.17; six analysts rate the stock Buy and one rates it Sell.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $5.74, for a total transaction of $86,100.00. Following the sale, the insider owned 1,104,402 shares in the company, valued at $6,339,267.48. This represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00.
• On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00.
• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were purchased at an average price of $5.33 per share, for a total transaction of $10,660.00.

Orchestra BioMed Stock Down 2.3%

NASDAQ:OBIO traded down $0.13 during trading hours on Tuesday, hitting $5.56. 273,209 shares of the stock traded hands, compared to its average volume of 281,640. The firm has a 50 day moving average price of $5.71 and a 200 day moving average price of $4.55. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $3.46 and a fifty-two week high of $6.50. The firm has a market cap of $334.18 million, a price-to-earnings ratio of -6.54 and a beta of 0.52.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. Equities research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently made changes to their positions in OBIO. Daytona Street Capital LLC grew its position in Orchestra BioMed by 27.7% in the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company's stock worth $744,000 after acquiring an additional 26,750 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Orchestra BioMed by 93.6% in the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company's stock valued at $153,000 after purchasing an additional 17,100 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Orchestra BioMed in the second quarter worth $2,771,000. Finally, Bank of America Corp DE acquired a new position in Orchestra BioMed during the second quarter worth $103,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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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