Key Points
- Insider sale: Darren Sherman sold 15,000 Orchestra BioMed shares for $74,100 under a pre-arranged Rule 10b5-1 plan, reducing his stake by 1.31% while retaining 1,134,402 shares.
- Company performance: OBIO opened at $4.95, near its 12-month high of $5.78, but remains unprofitable. The company reported a quarterly loss of $0.38 per share and $0.09 million in revenue.
- Analyst sentiment and ownership: Analysts maintain a “Moderate Buy” consensus with an average price target of $13.00, while institutional investors own 53.2% of the stock.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total value of $74,100.00. Following the completion of the transaction, the insider owned 1,134,402 shares in the company, valued at $5,603,945.88. The trade was a 1.31% decrease in their position. The sale was disclosed in a legal filing 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 Wednesday, August 26th, Darren Sherman bought 2,000 shares of Orchestra BioMed stock. The stock was acquired at an average cost 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 OBIO opened at $4.95 on Thursday. The stock has a 50 day moving average of $4.35 and a 200 day moving average of $4.23. The company has a market capitalization of $297.50 million, a price-to-earnings ratio of -5.82 and a beta of 0.54. Orchestra BioMed Holdings, Inc. has a 12 month low of $2.20 and a 12 month high of $5.78. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80.
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 for the quarter, topping the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. As a group, sell-side analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.
Analysts Set New Price Targets
OBIO has been the topic of a number of research analyst reports. B. Riley Financial cut their price target on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Wall Street Zen lowered shares of Orchestra BioMed from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Barclays boosted their target price on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, May 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Finally, Piper Sandler restated an "overweight" rating and set a $10.00 price target (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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.00.
Get Our Latest Stock Report on OBIO
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed in the 2nd quarter worth about $1,830,000. Flat Footed LLC purchased a new stake in Orchestra BioMed during the second quarter valued at about $1,084,670. Simplify Asset Management Inc. purchased a new stake in Orchestra BioMed during the first quarter valued at about $932,000. 683 Capital Management LLC bought a new position in Orchestra BioMed during the fourth quarter worth about $847,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Orchestra BioMed during the second quarter worth about $2,771,000. Hedge funds and other institutional investors own 53.20% of the company's stock.
Orchestra BioMed Company Profile
(
Get Free Report)
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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