David P. Hochman Buys 4,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIOGet Free Report) insider David P. Hochman acquired 4,000 shares of Orchestra BioMed stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $4.66 per share, with a total value of $18,640.00. Following the completion of the purchase, the insider now owns 579,498 shares of the company’s stock, valued at approximately $2,700,460.68. This represents a 0.70 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Orchestra BioMed Stock Down 7.8 %

OBIO opened at $4.40 on Friday. Orchestra BioMed Holdings, Inc. has a 52 week low of $4.22 and a 52 week high of $10.06. The firm has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $6.12. The company has a market capitalization of $167.26 million, a PE ratio of -2.73 and a beta of 0.44.

Orchestra BioMed (NASDAQ:OBIOGet Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million. As a group, sell-side analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

Institutional Trading of Orchestra BioMed

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted 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 acquiring an additional 23,448 shares during the last quarter. Geode Capital Management LLC increased its stake in Orchestra BioMed by 2.0% in the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after purchasing an additional 11,002 shares during the period. State Street Corp lifted its position in shares of Orchestra BioMed by 12.4% during the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. RTW Investments LP grew its holdings in shares of Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after purchasing an additional 2,585,519 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after buying an additional 8,107 shares during the period. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Wall Street Analyst Weigh In

OBIO has been the subject of a number of analyst reports. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research report on Friday, November 15th.

Get Our Latest Research Report on OBIO

About Orchestra BioMed

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Orchestra BioMed (NASDAQ:OBIO)

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