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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $5.74, for a total value of $86,100.00. Following the completion of the transaction, the insider directly owned 1,104,402 shares of the company’s stock, valued at $6,339,267.48. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, October 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00.
• On Tuesday, September 1st, Darren Sherman sold 15,000 shares of Orchestra BioMed stock. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00.
• On Wednesday, August 26th, Darren Sherman acquired 2,000 shares of Orchestra BioMed stock. The shares were bought at an average price of $5.33 per share, with a total value of $10,660.00.

Orchestra BioMed Trading Up 7.9%

Shares of Orchestra BioMed stock opened at $6.00 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The company has a fifty day simple moving average of $5.72 and a 200-day simple moving average of $4.56. Orchestra BioMed Holdings, Inc. has a 12-month low of $3.46 and a 12-month high of $6.50.

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

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds have recently made changes to their positions in OBIO. Rice Hall James & Associates LLC acquired a new stake in Orchestra BioMed during the 1st quarter worth approximately $81,000. Canada Pension Plan Investment Board purchased a new position in shares of Orchestra BioMed in the 2nd quarter valued at approximately $91,000. Bank of America Corp DE acquired a new position in shares of Orchestra BioMed in the second quarter valued at approximately $103,000. AXQ Capital LP acquired a new position in shares of Orchestra BioMed in the second quarter valued at approximately $110,000. Finally, Algert Global LLC raised its stake in shares of Orchestra BioMed by 94.4% during the second quarter. Algert Global LLC now owns 28,486 shares of the company’s stock worth $123,000 after purchasing an additional 13,830 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OBIO shares. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. B. Riley Financial upped their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research note on Monday, October 5th. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.17.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.