Darren Sherman Sells 15,000 Shares of Orchestra BioMed (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $61,350.00. Following the completion of the transaction, the insider owned 1,154,327 shares in the company, valued at approximately $4,721,197.43. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $58,050.00.

Orchestra BioMed Price Performance

OBIO stock opened at $4.22 on Thursday. The company has a quick ratio of 7.01, a current ratio of 7.03 and a debt-to-equity ratio of 0.35. Orchestra BioMed Holdings, Inc. has a 52-week low of $2.20 and a 52-week high of $5.42. The stock’s 50 day moving average is $3.96 and its two-hundred day moving average is $4.10. The company has a market capitalization of $252.69 million, a PE ratio of -4.35 and a beta of 0.50.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Analysts predict that Orchestra BioMed Holdings, Inc. will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

A number of hedge funds and other institutional investors have recently bought and sold shares of OBIO. Bank of America Corp DE raised its position in shares of Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after purchasing an additional 7,036 shares during the period. Creative Planning acquired a new position in Orchestra BioMed during the 2nd quarter valued at approximately $40,000. XTX Topco Ltd bought a new position in Orchestra BioMed during the 2nd quarter worth $45,000. Marshall Wace LLP bought a new position in Orchestra BioMed during the 2nd quarter worth $133,000. Finally, NewEdge Advisors LLC bought a new position in Orchestra BioMed during the 2nd quarter worth $118,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on OBIO shares. Wall Street Zen downgraded shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. B. Riley Financial cut their target price on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Thursday, May 14th. Finally, Barclays lifted their price target on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Orchestra BioMed Company Profile

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.