Orchestra BioMed (NASDAQ:OBIO) Insider Purchases $42,900.00 in Stock

by · The Markets Daily

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO – Get Free Report) insider David Hochman acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the purchase, the insider owned 1,086,467 shares of the company’s stock, valued at $4,660,943.43. This trade represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Orchestra BioMed Stock Performance

NASDAQ OBIO traded up $0.35 during trading hours on Monday, reaching $4.55. The company’s stock had a trading volume of 290,300 shares, compared to its average volume of 214,322. The company has a current ratio of 6.45, a quick ratio of 6.43 and a debt-to-equity ratio of 0.27. The business has a 50-day simple moving average of $4.19 and a 200 day simple moving average of $3.86. Orchestra BioMed Holdings, Inc. has a 52 week low of $2.20 and a 52 week high of $5.42. The stock has a market cap of $266.27 million, a PE ratio of -4.03 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO – Get Free Report) last posted its earnings results on Thursday, March 12th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.38) by $0.64. The company had revenue of $30.92 million during the quarter, compared to analyst estimates of $0.93 million. Orchestra BioMed had a negative return on equity of 184.17% and a negative net margin of 157.40%. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

Several hedge funds have recently added to or reduced their stakes in OBIO. Catalyst Funds Management Pty Ltd bought a new stake in Orchestra BioMed during the 2nd quarter valued at $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Orchestra BioMed in the fourth quarter worth $38,000. Creative Planning bought a new position in shares of Orchestra BioMed in the second quarter worth $40,000. XTX Topco Ltd acquired a new position in shares of Orchestra BioMed during the second quarter valued at $45,000. Finally, Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the second quarter valued at $50,000. Institutional investors own 53.20% of the company’s stock.

Analyst Upgrades and Downgrades

OBIO has been the topic of several analyst reports. Wall Street Zen raised Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research report on Saturday. Chardan Capital reissued a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Thursday. Barclays upped their price target on shares of Orchestra BioMed from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Finally, TD Cowen started coverage on shares of Orchestra BioMed in a research report on Wednesday, December 10th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.80.

Read Our Latest Analysis on Orchestra BioMed

About Orchestra BioMed

(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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