David P. Hochman Acquires 2,500 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman bought 2,500 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average cost of $4.91 per share, with a total value of $12,275.00. Following the completion of the transaction, the insider now owns 570,498 shares in the company, valued at $2,801,145.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Orchestra BioMed Trading Up 3.9 %

Shares of NASDAQ:OBIO opened at $5.02 on Friday. Orchestra BioMed Holdings, Inc. has a 12 month low of $4.22 and a 12 month high of $11.69. The stock has a market cap of $189.91 million, a P/E ratio of -3.39 and a beta of 0.44. The company has a 50 day moving average of $6.16 and a 200 day moving average of $6.10.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The firm had revenue of $0.78 million during the quarter, compared to the consensus estimate of $1.04 million. Orchestra BioMed had a negative return on equity of 89.28% and a negative net margin of 2,673.26%. On average, equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.67 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

Large investors have recently modified their holdings of the business. Catalytic Wealth RIA LLC bought a new position in shares of Orchestra BioMed in the first quarter worth approximately $117,000. SkyView Investment Advisors LLC purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at $163,000. Rhumbline Advisers lifted its holdings in shares of Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after acquiring an additional 17,405 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Orchestra BioMed by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after acquiring an additional 3,245 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Orchestra BioMed by 115.7% during the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after purchasing an additional 37,906 shares in the last quarter. Institutional investors own 53.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OBIO shares. HC Wainwright assumed coverage on Orchestra BioMed in a research report on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price for the company. B. Riley started coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, June 12th.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company's flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.