Orchestra BioMed (NASDAQ:OBIO) Insider Darren Sherman Sells 15,000 Shares of Stock

by · The Markets Daily

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 value of $86,100.00. Following the transaction, the insider owned 1,104,402 shares in the company, valued at $6,339,267.48. This trade represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $6.36, for a total value 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 value of $74,100.00.
  • On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The stock was bought at an average cost of $5.33 per share, for a total transaction of $10,660.00.

Orchestra BioMed Trading Down 2.3%

NASDAQ OBIO opened at $5.56 on Wednesday. The stock’s 50-day moving average price is $5.71 and its 200-day moving average price is $4.55. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. Orchestra BioMed Holdings, Inc. has a 52 week low of $3.46 and a 52 week high of $6.50.

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, beating analysts’ consensus estimates of ($0.39) by $0.01. The firm 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%. Equities research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on OBIO shares. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. B. Riley Financial increased their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research report on Monday, October 5th. Piper Sandler restated an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Finally, Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research note on Friday, October 23rd. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Orchestra BioMed has a consensus rating of “Moderate Buy” and a consensus price target of $13.17.

Read Our Latest Stock Report on OBIO

Institutional Trading of Orchestra BioMed

Institutional investors have recently made changes to their positions in the business. Knott David M Jr boosted its stake in Orchestra BioMed by 1.5% in the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after purchasing an additional 3,651 shares during the period. Algert Global LLC grew its holdings in Orchestra BioMed by 94.4% during the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock valued at $123,000 after buying an additional 13,830 shares in the last quarter. HighTower Advisors LLC grew its holdings in Orchestra BioMed by 93.6% during the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock valued at $153,000 after buying an additional 17,100 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed during the 1st quarter valued at approximately $81,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Orchestra BioMed during the 2nd quarter valued at approximately $91,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

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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