Key Points
- Insider transaction: Darren Sherman bought 2,000 Orchestra BioMed shares at an average of $5.33, worth $10,660. The purchase was made to cover tax withholding on vested equity awards, following two 15,000-share sales earlier this year.
- Company performance: OBIO shares opened at $5.18 and have risen 1.4%, while the company reported a quarterly loss of $0.38 per share, slightly better than analyst expectations, on revenue of $0.09 million.
- Analyst outlook: Six analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $13, well above the current share price.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman bought 2,000 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $5.33 per share, with a total value of $10,660.00. Following the completion of the acquisition, the insider owned 2,000 shares in the company, valued at $10,660. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Darren Sherman also recently made the following trade(s):
- 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.
- On Monday, June 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $3.87, for a total value of $58,050.00.
Orchestra BioMed Stock Up 1.4%
Shares of NASDAQ OBIO opened at $5.18 on Friday. Orchestra BioMed Holdings, Inc. has a 52-week low of $2.20 and a 52-week high of $5.78. 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 business has a fifty day moving average of $4.29 and a two-hundred day moving average of $4.21. The stock has a market cap of $311.32 million, a PE ratio of -6.09 and a beta of 0.50.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its 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. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. As a group, equities research analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Orchestra BioMed
Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning acquired a new stake in Orchestra BioMed in the 2nd quarter valued at about $40,000. XTX Topco Ltd bought a new position in shares of Orchestra BioMed in the second quarter worth about $45,000. Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the second quarter worth approximately $50,000. Virtu Financial LLC acquired a new position in shares of Orchestra BioMed during the fourth quarter worth approximately $57,000. Finally, Bank of America Corp DE grew its stake in shares of Orchestra BioMed by 35.7% during the second quarter. Bank of America Corp DE now owns 21,577 shares of the company's stock valued at $58,000 after purchasing an additional 5,678 shares during the last quarter. Institutional investors own 53.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on OBIO. Piper Sandler reaffirmed an "overweight" rating and set a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th. Barclays boosted their target price on Orchestra BioMed from $12.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. Wall Street Zen lowered Orchestra BioMed from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. B. Riley Financial dropped their price target on Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, May 19th. Finally, HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Orchestra BioMed in a research report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Orchestra BioMed currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.
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About Orchestra BioMed
(
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Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company's research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed's pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.
Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.
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