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

Key Points

• Insider sale: Darren Sherman sold 15,000 Orchestra BioMed shares at an average of $6.36 for $95,400 under a pre-arranged Rule 10b5-1 plan. He retained 1,119,402 shares after the transaction.
• Stock performance: OBIO traded down $0.40 to $5.95, with a 52-week range of $2.66 to $6.50 and a market capitalization of approximately $357.6 million.
• Analyst outlook: Six analysts rate the stock Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $13.17.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $6.36, for a total value of $95,400.00. Following the transaction, the insider directly owned 1,119,402 shares in the company, valued at $7,119,396.72. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 value 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, with a total value of $10,660.00.
• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.09, for a total value of $61,350.00.

Orchestra BioMed Stock Performance

Shares of NASDAQ OBIO traded down $0.40 during midday trading on Friday, hitting $5.95. 421,089 shares of the company's stock traded hands, compared to its average volume of 276,827. Orchestra BioMed Holdings, Inc. has a 1 year low of $2.66 and a 1 year high of $6.50. The stock has a market capitalization of $357.60 million, a price-to-earnings ratio of -7.00 and a beta of 0.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The firm has a fifty day moving average of $5.13 and a 200 day moving average of $4.47.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $0.14 million. On average, analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on OBIO. B. Riley Financial upped their price target on Orchestra BioMed from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Tuesday, September 15th. Weiss Ratings raised Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 10th. Finally, Piper Sandler reissued an "overweight" rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $13.17.

Institutional Trading of Orchestra BioMed

A number of hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its position 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 worth $153,000 after purchasing an additional 17,100 shares during the period. AXQ Capital LP purchased a new position in Orchestra BioMed during the 2nd quarter worth $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Orchestra BioMed during the second quarter worth about $2,771,000. Bank of America Corp DE purchased a new stake in Orchestra BioMed during the 2nd quarter worth approximately $103,000. Finally, Flat Footed LLC purchased a new stake in shares of Orchestra BioMed during the second quarter valued at $1,084,670. 53.20% of the stock is owned by hedge funds and other institutional investors.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage healthcare company developing products for the treatment of cardiovascular and other serious medical conditions. The company uses a partnership-oriented business model, working with medical device and healthcare companies to advance novel therapies toward commercialization.

Orchestra BioMed's leading program is BackBeat Cardiac Neuromodulation Therapy, an investigational device-based treatment designed to provide sustained reductions in blood pressure for patients with hypertension.

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