Key Points
- Insider purchase: Director David Hochman bought 5,000 shares on Nov. 14 at $4.07 each for $20,350, increasing his stake to 612,822 shares (a 0.82% rise).
- Weak reported results but bullish analyst view: The company posted Q3 EPS of ($0.40) versus ($0.38) expected and has highly negative margins, yet the stock trades near $4.13 and carries a consensus "Moderate Buy" with a $13.25 price target.
- Notable institutional buying: Vanguard increased its position by 28% to 1.48 million shares in Q3 and institutions now own about 53.2% of the company.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman bought 5,000 shares of Orchestra BioMed stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average cost of $4.07 per share, with a total value of $20,350.00. Following the acquisition, the insider directly owned 612,822 shares in the company, valued at $2,494,185.54. This trade represents a 0.82% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Orchestra BioMed Stock Up 4.8%
Shares of OBIO opened at $4.13 on Tuesday. The firm has a market cap of $233.22 million, a P/E ratio of -2.27 and a beta of 0.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.72 and a current ratio of 4.73. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.20 and a 52 week high of $6.30. The firm's 50-day simple moving average is $3.24 and its 200 day simple moving average is $3.01.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.38) by ($0.02). The firm had revenue of $0.86 million for the quarter, compared to the consensus estimate of $0.74 million. Orchestra BioMed had a negative return on equity of 320.09% and a negative net margin of 2,665.05%. On average, analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.
Institutional Investors Weigh In On Orchestra BioMed
Several hedge funds have recently modified their holdings of OBIO. Vanguard Group Inc. grew its position in Orchestra BioMed by 28.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company's stock worth $3,675,000 after acquiring an additional 324,558 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Orchestra BioMed during the third quarter worth about $3,386,000. Pathstone Holdings LLC bought a new stake in shares of Orchestra BioMed during the third quarter worth about $2,495,000. Knott David M Jr increased its stake in shares of Orchestra BioMed by 95.0% in the third quarter. Knott David M Jr now owns 195,000 shares of the company's stock valued at $484,000 after buying an additional 95,000 shares during the period. Finally, AMH Equity Ltd bought a new position in Orchestra BioMed in the 3rd quarter valued at approximately $412,000. Institutional investors and hedge funds own 53.20% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently commented on OBIO. Barclays lowered their price target on shares of Orchestra BioMed from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 12th. HC Wainwright lowered their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Orchestra BioMed in a report on Wednesday, October 8th. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Thursday, November 13th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.25.
Get Our Latest Analysis on OBIO
About Orchestra BioMed
(
Get Free Report)
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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