Orchestra BioMed (NASDAQ:OBIO) Director Purchases $15,033.60 in Stock

Key Points

• Orchestra BioMed Director Eric Fain purchased 5,760 shares of the company’s stock for a total of $15,033.60, increasing his ownership stake by 8.73%.
• The company's latest quarterly earnings report showed a loss of ($0.50) EPS, which was better than analysts' expectations of ($0.51), with revenue also surpassing estimates.
• Institutional ownership of Orchestra BioMed stands at 53.20%, with several firms recently acquiring new positions in the company during the second quarter.

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) Director Eric Fain acquired 5,760 shares of Orchestra BioMed stock in a transaction dated Monday, August 25th. The stock was purchased at an average cost of $2.61 per share, for a total transaction of $15,033.60. Following the completion of the purchase, the director owned 71,709 shares in the company, valued at approximately $187,160.49. The trade was a 8.73% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Orchestra BioMed Trading Up 2.0%

Shares of NASDAQ:OBIO traded up $0.05 during trading on Monday, reaching $2.60. The stock had a trading volume of 127,063 shares, compared to its average volume of 451,739. The firm's fifty day moving average is $2.91 and its 200 day moving average is $3.35. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.37 and a 52 week high of $7.04.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.50) EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.01. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. The company had revenue of $0.84 million for the quarter, compared to analyst estimates of $0.78 million. On average, equities research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OBIO. Catalyst Funds Management Pty Ltd acquired a new position in Orchestra BioMed during the second quarter worth $31,000. Creative Planning acquired a new position in Orchestra BioMed during the second quarter worth $40,000. XTX Topco Ltd acquired a new position in Orchestra BioMed during the second quarter worth $45,000. Jane Street Group LLC acquired a new position in Orchestra BioMed during the second quarter worth $50,000. Finally, Wells Fargo & Company MN raised its holdings in Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock worth $53,000 after buying an additional 3,992 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OBIO. Barclays reduced their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. BTIG Research reaffirmed a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.00.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company's flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.

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