Orchestra BioMed (NASDAQ:OBIO) Insider David Hochman Acquires 5,000 Shares of Stock

Key Points

• Orchestra BioMed insider David Hochman purchased 5,000 shares at $5 each, a $25,000 transaction that increased his stake by 1.15% to 437,916 shares.
• OBIO shares closed at $5.70, up $0.02 on the day. The company reported a quarterly loss of $0.38 per share, slightly better than analysts’ $0.39 loss estimate, while revenue missed expectations.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $13.17; institutional investors own 53.2% of the stock.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman bought 5,000 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average price of $5.00 per share, with a total value of $25,000.00. Following the transaction, the insider directly owned 437,916 shares of the company's stock, valued at $2,189,580. This represents a 1.15% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Orchestra BioMed Price Performance

OBIO traded up $0.02 on Monday, hitting $5.70. 781,799 shares of the company's stock traded hands, compared to its average volume of 290,898. The company's 50 day simple moving average is $5.74 and its 200-day simple moving average is $4.57. The firm has a market cap of $342.60 million, a price-to-earnings ratio of -6.71 and a beta of 0.56. Orchestra BioMed Holdings, Inc. has a one year low of $3.46 and a one year high of $6.50. 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 (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 the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million during 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%. As a group, research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several large investors have recently bought and sold shares of OBIO. BlackRock Inc. purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Orchestra BioMed in the second quarter worth about $2,771,000. Rice Hall James & Associates LLC purchased a new position in Orchestra BioMed in the second quarter worth about $1,830,000. Flat Footed LLC bought a new stake in Orchestra BioMed during the second quarter worth approximately $1,084,670. Finally, Bank of New York Mellon Corp bought a new stake in Orchestra BioMed during the second quarter worth approximately $372,000. Institutional investors own 53.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

Orchestra BioMed Company Profile

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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