Key Points
- Insider sale: Darren Sherman sold 15,000 Orchestra BioMed shares at an average of $6.36, generating $95,400. The transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 1.32% to 1,119,402 shares.
- Company performance: OBIO opened at $5.95, with a market capitalization of approximately $357.6 million and a 52-week range of $2.66 to $6.50. The company reported a quarterly loss of $0.38 per share, slightly better than analysts’ expectations.
- 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 $13.17. Institutional investors own 53.2% of the company.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of the business's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $6.36, for a total value of $95,400.00. Following the transaction, the insider owned 1,119,402 shares in the company, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Darren Sherman also recently made the following trade(s):
- On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.94, for a total value of $74,100.00.
- On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The stock was purchased at an average price 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 stock was sold at an average price of $4.09, for a total value of $61,350.00.
Orchestra BioMed Price Performance
Shares of NASDAQ:OBIO opened at $5.95 on Friday. The firm has a market capitalization of $357.60 million, a PE ratio of -7.00 and a beta of 0.52. 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 Holdings, Inc. has a 1-year low of $2.66 and a 1-year high of $6.50. The business's 50 day moving average is $5.18 and its 200-day moving average is $4.48.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.01. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. Sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.
Hedge Funds Weigh In On Orchestra BioMed
Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC raised its stake in Orchestra BioMed by 93.6% during the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company's stock worth $153,000 after acquiring an additional 17,100 shares in the last quarter. AXQ Capital LP bought a new position in shares of Orchestra BioMed during the second quarter valued at $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $2,771,000. Bank of America Corp DE acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $103,000. Finally, Flat Footed LLC acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $1,084,670. Institutional investors own 53.20% of the company's stock.
Analyst Ratings Changes
OBIO has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 10th. Piper Sandler reiterated an "overweight" rating and set a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Finally, B. Riley Financial upped their target price on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.17.
Check Out Our Latest Research Report on OBIO
About Orchestra BioMed
(
Get Free Report)
Orchestra BioMed Holdings, Inc is a clinical-stage healthcare company developing products for the treatment of cardiovascular and other serious medical conditions. The company uses a partnership-oriented business model, working with medical device and healthcare companies to advance novel therapies toward commercialization.
Orchestra BioMed's leading program is BackBeat Cardiac Neuromodulation Therapy, an investigational device-based treatment designed to provide sustained reductions in blood pressure for patients with hypertension.
Further Reading
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