Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Purchases $24,550.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $4.91 per share, with a total value of $24,550.00. Following the completion of the purchase, the insider now owns 575,498 shares of the company’s stock, valued at approximately $2,825,695.18. This trade represents a 0.88 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Orchestra BioMed Price Performance

OBIO opened at $4.92 on Friday. The company has a market capitalization of $187.03 million, a price-to-earnings ratio of -3.06 and a beta of 0.44. The business’s 50-day moving average price is $5.56 and its two-hundred day moving average price is $6.23. Orchestra BioMed Holdings, Inc. has a 1 year low of $4.22 and a 1 year high of $10.44.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Sell-side analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in OBIO. SG Americas Securities LLC acquired a new position in Orchestra BioMed during the third quarter worth $52,000. ABLE Financial Group LLC bought a new position in shares of Orchestra BioMed in the 3rd quarter valued at about $69,000. Barclays PLC increased its stake in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $163,000. Finally, Rhumbline Advisers lifted its stake in Orchestra BioMed by 192.7% in the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after purchasing an additional 17,405 shares during the last quarter. Institutional investors own 53.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OBIO. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a report on Friday, November 15th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

About Orchestra BioMed

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.