Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider Darren Sherman sold 15,000 shares of Orchestra BioMed stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $5.74, for a total transaction of $86,100.00. Following the completion of the sale, the insider owned 1,104,402 shares in the company, valued at approximately $6,339,267.48. This represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Darren Sherman also recently made the following trade(s):
- On Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00.
- On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00.
- On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were bought at an average cost of $5.33 per share, with a total value of $10,660.00.
Orchestra BioMed Stock Performance
Shares of Orchestra BioMed stock opened at $5.56 on Wednesday. The business has a 50-day moving average price of $5.71 and a 200-day moving average price of $4.55. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. Orchestra BioMed Holdings, Inc. has a twelve month low of $3.46 and a twelve month high of $6.50.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. The firm had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. As a group, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on OBIO. B. Riley Financial raised their price target on Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Friday, October 23rd. Weiss Ratings raised Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 10th. HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Finally, Piper Sandler reiterated an "overweight" rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $13.17.
Check Out Our Latest Report on OBIO
Institutional Trading of Orchestra BioMed
Large investors have recently made changes to their positions in the business. Flat Footed LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth about $1,084,670. Rice Hall James & Associates LLC purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at about $1,830,000. BlackRock Inc. bought a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $2,771,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $372,000. 53.20% of the stock is currently owned by institutional investors.
Orchestra BioMed Company Profile
(
Get Free Report)
Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.
Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.
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