Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider David P. Hochman Buys 2,500 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman bought 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of $4.91 per share, for a total transaction of $12,275.00. Following the acquisition, the insider now directly owns 570,498 shares in the company, valued at $2,801,145.18. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Orchestra BioMed Stock Up 1.7 %

OBIO stock opened at $4.69 on Thursday. The business has a fifty day moving average of $6.28 and a 200-day moving average of $6.12. The company has a market cap of $177.42 million, a P/E ratio of -3.17 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $11.69.

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

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently modified their holdings of OBIO. Catalytic Wealth RIA LLC bought a new position in Orchestra BioMed in the first quarter valued at approximately $117,000. SkyView Investment Advisors LLC bought a new stake in Orchestra BioMed in the 2nd quarter valued at $163,000. Rhumbline Advisers lifted its position 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 acquiring an additional 17,405 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Orchestra BioMed by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after purchasing an additional 3,245 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Orchestra BioMed by 115.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after purchasing an additional 37,906 shares in the last quarter. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.