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

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

Orchestra BioMed Price Performance

Shares of OBIO stock opened at $5.55 on Wednesday. The stock’s 50-day moving average is $6.93 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 $198.62 million, a P/E ratio of -3.75 and a beta of 0.44.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.78 million during the quarter, compared to the consensus estimate of $1.04 million. On average, analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently bought and sold shares of OBIO. Bank of New York Mellon Corp increased 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 worth $576,000 after purchasing an additional 37,906 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Orchestra BioMed by 8.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after buying an additional 3,245 shares during the last quarter. Rhumbline Advisers increased its position 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 buying an additional 17,405 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new stake in Orchestra BioMed in the first quarter valued at about $117,000. Finally, SkyView Investment Advisors LLC acquired a new stake in Orchestra BioMed in the second quarter worth about $163,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OBIO has been the subject of a number of research reports. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, June 12th. HC Wainwright started 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 for the company. Finally, B. Riley assumed coverage on shares of Orchestra BioMed in a report on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective 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.