Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider David P. Hochman Acquires 2,500 Shares

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average price of $5.84 per share, with a total value of $14,600.00. Following the transaction, the insider now owns 567,998 shares of the company’s stock, valued at approximately $3,317,108.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Orchestra BioMed Trading Up 5.9 %

OBIO opened at $6.42 on Friday. Orchestra BioMed Holdings, Inc. has a 12 month low of $4.22 and a 12 month high of $11.69. The stock has a 50-day moving average of $7.34 and a 200 day moving average of $6.29. The firm has a market cap of $229.76 million, a P/E ratio of -4.34 and a beta of 0.45.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.04). Orchestra BioMed had a negative net margin of 2,330.46% and a negative return on equity of 70.18%. The business had revenue of $0.78 million for the quarter, compared to analysts’ expectations of $1.04 million. On average, research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on OBIO. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, June 12th. B. Riley began coverage on Orchestra BioMed in a research report on Thursday, July 25th. They issued a “buy” rating and a $15.00 price target for the company.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of 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 buying an additional 37,906 shares during the period. The Manufacturers Life Insurance Company boosted 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 valued at $343,000 after buying an additional 3,245 shares during the period. Rhumbline Advisers boosted its position in shares of Orchestra BioMed by 192.7% during 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. Catalytic Wealth RIA LLC purchased a new position in shares of Orchestra BioMed during the first quarter valued at approximately $117,000. Finally, SkyView Investment Advisors LLC purchased a new stake in shares of Orchestra BioMed in the second quarter valued at approximately $163,000. Hedge funds and other institutional investors own 53.55% of the company’s stock.

About Orchestra BioMed

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.