Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Acquires 4,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman acquired 4,000 shares of Orchestra BioMed stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $4.66 per share, with a total value of $18,640.00. Following the completion of the purchase, the insider now owns 579,498 shares in the company, valued at $2,700,460.68. The trade was a 0.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Orchestra BioMed Trading Up 1.5 %

Shares of OBIO opened at $4.77 on Friday. The firm has a market capitalization of $181.33 million, a PE ratio of -2.96 and a beta of 0.44. The stock’s 50 day moving average is $5.51 and its two-hundred day moving average is $6.15. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. On average, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on OBIO. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th. Chardan Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. RTW Investments LP boosted its holdings in Orchestra BioMed by 46.0% during the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after buying an additional 2,585,519 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Orchestra BioMed by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after acquiring an additional 8,107 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Orchestra BioMed by 8.4% in the 2nd 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 during the period. Rhumbline Advisers increased its stake 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 in the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $576,000 after purchasing an additional 37,906 shares during the last quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

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.