Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Purchases 2,500 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman purchased 2,500 shares of Orchestra BioMed stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average price of $4.91 per share, for a total transaction of $12,275.00. Following the completion of the acquisition, the insider now owns 570,498 shares of the company’s stock, valued at approximately $2,801,145.18. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Orchestra BioMed Price Performance

Shares of OBIO stock opened at $5.02 on Friday. The business’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $6.11. Orchestra BioMed Holdings, Inc. has a one year low of $4.22 and a one year high of $11.69. The stock has a market capitalization of $189.91 million, a PE ratio of -3.39 and a beta of 0.44.

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

Institutional Trading of Orchestra BioMed

Institutional investors have recently added to or reduced their stakes in the stock. Catalytic Wealth RIA LLC acquired a new position in Orchestra BioMed in the first quarter valued at approximately $117,000. SkyView Investment Advisors LLC acquired a new position in Orchestra BioMed in the second quarter valued at approximately $163,000. Rhumbline Advisers lifted its stake in Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock valued at $215,000 after buying an additional 17,405 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Orchestra BioMed by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after buying an additional 3,245 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after buying an additional 37,906 shares during the period. 53.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OBIO has been the topic of several research reports. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, June 12th. B. Riley initiated coverage on Orchestra BioMed in a report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target on the stock. Finally, HC Wainwright initiated coverage on Orchestra BioMed in a report on Thursday, August 22nd. They set a “buy” rating and a $14.00 price target on the stock.

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.