Darren Sherman Purchases 2,000 Shares of Orchestra BioMed (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman purchased 2,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were acquired at an average price of $5.33 per share, with a total value of $10,660.00. Following the transaction, the insider owned 2,000 shares in the company, valued at $10,660. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Darren Sherman also recently made the following trade(s):

• On Monday, August 3rd, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $4.09, for a total transaction of $61,350.00.
• On Monday, June 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The shares were sold at an average price of $3.87, for a total transaction of $58,050.00.

Orchestra BioMed Trading Up 1.4%

OBIO traded up $0.07 during trading on Friday, reaching $5.18. 154,427 shares of the company’s stock were exchanged, compared to its average volume of 263,694. The company’s fifty day moving average price is $4.27 and its 200-day moving average price is $4.20. The firm has a market capitalization of $311.32 million, a PE ratio of -6.09 and a beta of 0.50. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.78. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OBIO. Creative Planning acquired a new position in shares of Orchestra BioMed in the second quarter valued at approximately $40,000. XTX Topco Ltd bought a new stake in Orchestra BioMed in the 2nd quarter valued at approximately $45,000. Jane Street Group LLC acquired a new position in Orchestra BioMed during the 2nd quarter worth approximately $50,000. Virtu Financial LLC acquired a new position in Orchestra BioMed during the 4th quarter worth approximately $57,000. Finally, Bank of America Corp DE raised its holdings in shares of Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after purchasing an additional 5,678 shares during the last quarter. Institutional investors own 53.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a report on Thursday, May 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Barclays upped their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, B. Riley Financial dropped their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.