Eric S. Fain Sells 2,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric S. Fain sold 2,000 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $5.64, for a total transaction of $11,280.00. Following the transaction, the director now owns 44,810 shares in the company, valued at $252,728.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $5.69 on Thursday. The firm’s 50-day moving average is $6.89 and its 200-day moving average is $6.23. Orchestra BioMed Holdings, Inc. has a 1 year low of $4.22 and a 1 year high of $11.69. The company has a market cap of $203.63 million, a P/E ratio of -3.84 and a beta of 0.44.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.04 million. As a group, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on OBIO. B. Riley began coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective on the stock. Chardan Capital reiterated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, June 12th. Finally, HC Wainwright began 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 on the stock.

Institutional Trading of Orchestra BioMed

Hedge funds have recently bought and sold shares of the company. Catalytic Wealth RIA LLC bought a new stake in Orchestra BioMed in the 1st quarter valued at about $117,000. The Manufacturers Life Insurance Company lifted its position 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 valued at $343,000 after purchasing an additional 3,245 shares during the last quarter. SkyView Investment Advisors LLC bought a new stake in Orchestra BioMed in the 2nd quarter valued at about $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 purchasing an additional 17,405 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after purchasing an additional 37,906 shares during the last quarter. 53.55% of the stock is currently owned by institutional investors.

Orchestra BioMed Company Profile

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.