Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Purchases $18,640.00 in Stock

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

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $4.40 on Friday. The firm has a market capitalization of $167.26 million, a PE ratio of -2.73 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a one year low of $4.22 and a one year high of $10.06. The stock’s 50 day moving average price is $5.49 and its 200 day moving average price is $6.11.

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

Wall Street Analysts Forecast Growth

OBIO has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research report on Friday, November 15th. Chardan Capital restated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th.

Hedge Funds Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBIO. The Manufacturers Life Insurance Company lifted its stake in shares of Orchestra BioMed by 8.4% in 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. Charles Schwab Investment Management Inc. increased its holdings in 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 purchasing an additional 8,107 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Orchestra BioMed in the 3rd quarter valued at approximately $52,000. Geode Capital Management LLC boosted its stake in shares of Orchestra BioMed by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after buying an additional 11,002 shares during the last quarter. Finally, ABLE Financial Group LLC bought a new stake in shares of Orchestra BioMed in the third quarter worth $69,000. 53.55% of the stock is owned by hedge funds and other institutional investors.

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.