Insider Selling: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Sells 6,804 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 6,804 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares of the company’s stock, valued at approximately $4,234,346.68. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, September 6th, Darren Sherman sold 6,819 shares of Orchestra BioMed stock. The stock was sold at an average price of $5.65, for a total transaction of $38,527.35.
• On Wednesday, September 4th, Darren Sherman sold 6,837 shares of Orchestra BioMed stock. The shares were sold at an average price of $6.10, for a total transaction of $41,705.70.

Orchestra BioMed Stock Up 0.7 %

Orchestra BioMed stock opened at $5.55 on Wednesday. The company has a market capitalization of $198.62 million, a P/E ratio of -3.75 and a beta of 0.44. The firm has a 50 day moving average price of $6.93 and a 200-day moving average price of $6.23. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The firm had revenue of $0.78 million for the quarter, compared to the consensus estimate of $1.04 million. Orchestra BioMed had a negative net margin of 2,673.26% and a negative return on equity of 89.28%. Equities analysts expect that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Orchestra BioMed by 115.7% during the second 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. Catalytic Wealth RIA LLC bought a new position in Orchestra BioMed in the 1st quarter worth approximately $117,000. SkyView Investment Advisors LLC bought a new position in Orchestra BioMed in the 2nd quarter worth approximately $163,000. Rhumbline Advisers raised its holdings in Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after acquiring an additional 17,405 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after acquiring an additional 3,245 shares in the last quarter. Institutional investors own 53.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. B. Riley began coverage on Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price on the stock. HC Wainwright began coverage on Orchestra BioMed in a research report on Thursday, August 22nd. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, June 12th.

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.