Orchestra BioMed (NASDAQ:OBIO) Director Acquires $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 S. Fain bought 5,760 shares of the company's stock in a transaction that occurred on Monday, August 25th. The stock was purchased at an average cost of $2.61 per share, with a total value of $15,033.60. Following the acquisition, the director directly owned 71,709 shares in the company, valued at $187,160.49. This trade represents a 8.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Orchestra BioMed Price Performance

Orchestra BioMed stock traded up $0.02 during mid-day trading on Friday, hitting $2.73. The stock had a trading volume of 123,956 shares, compared to its average volume of 501,123. The firm has a market capitalization of $105.49 million, a P/E ratio of -1.49 and a beta of 0.62. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76. The firm's 50 day moving average is $2.87 and its 200 day moving average is $3.28. Orchestra BioMed Holdings, Inc. has a one year low of $2.37 and a one year high of $7.04.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.01. The company had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. On average, sell-side analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, August 13th. BTIG Research reiterated a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Finally, Barclays decreased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Orchestra BioMed has a consensus rating of "Buy" and an average target price of $14.00.

Institutional Trading of Orchestra BioMed

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock valued at $2,290,000 after buying an additional 5,222 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Orchestra BioMed during the 4th quarter valued at about $86,000. IFP Advisors Inc raised its position in shares of Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock valued at $693,000 after buying an additional 83,481 shares in the last quarter. Northern Trust Corp raised its position in shares of Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company's stock valued at $947,000 after buying an additional 5,725 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after buying an additional 3,992 shares in the last quarter. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

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.