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 firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00. Following the completion of the transaction, the insider owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, August 26th, Darren Sherman purchased 2,000 shares of Orchestra BioMed stock. The stock was acquired at an average cost of $5.33 per share, with a total value of $10,660.00.
• 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.

Orchestra BioMed Price Performance

Shares of NASDAQ:OBIO opened at $4.74 on Friday. The company has a market cap of $284.87 million, a PE ratio of -5.58 and a beta of 0.54. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.78. The firm has a 50-day simple moving average of $4.36 and a 200 day simple moving average of $4.24. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. On average, sell-side analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current year.

Institutional Trading of Orchestra BioMed

Several large investors have recently added to or reduced their stakes in OBIO. Virtu Financial LLC bought a new stake in Orchestra BioMed during the 4th quarter valued at $57,000. Creative Planning bought a new position in shares of Orchestra BioMed in the second quarter worth $40,000. XTX Topco Ltd bought a new position in shares of Orchestra BioMed in the second quarter worth $45,000. Balyasny Asset Management L.P. acquired a new position in shares of Orchestra BioMed during the fourth quarter valued at $76,000. Finally, Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the second quarter valued at $50,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OBIO has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. B. Riley Financial dropped their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. Wall Street Zen lowered shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Barclays increased their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.