Insider Buying: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Acquires 5,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman bought 5,000 shares of Orchestra BioMed stock in a transaction on Wednesday, December 18th. The stock was acquired at an average cost of $4.91 per share, for a total transaction of $24,550.00. Following the acquisition, the insider now owns 575,498 shares in the company, valued at approximately $2,825,695.18. This represents a 0.88 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orchestra BioMed Stock Performance

Shares of OBIO opened at $4.92 on Friday. Orchestra BioMed Holdings, Inc. has a 52 week low of $4.22 and a 52 week high of $10.44. The stock has a market capitalization of $187.03 million, a price-to-earnings ratio of -3.06 and a beta of 0.44. The stock has a fifty day moving average of $5.56 and a 200-day moving average of $6.24.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.03. The firm had revenue of $0.99 million during 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%. As a group, equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its stake 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 acquiring an additional 3,245 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position 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 Orchestra BioMed during the 3rd quarter worth about $52,000. Geode Capital Management LLC grew its position in shares of Orchestra BioMed by 2.0% in 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 acquired a new stake in shares of Orchestra BioMed in the third quarter valued at about $69,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OBIO has been the topic of several research analyst 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, November 13th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th.

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.