Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider David P. Hochman Buys 5,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman acquired 5,000 shares of Orchestra BioMed stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $4.91 per share, for a total transaction of $24,550.00. Following the purchase, the insider now directly owns 575,498 shares in the company, valued at $2,825,695.18. The trade was a 0.88 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Orchestra BioMed Stock Performance

NASDAQ OBIO opened at $4.80 on Friday. The stock has a market cap of $182.47 million, a price-to-earnings ratio of -2.98 and a beta of 0.44. The business has a 50 day simple moving average of $5.56 and a 200 day simple moving average of $6.25. Orchestra BioMed Holdings, Inc. has a 52-week low of $4.22 and a 52-week high of $10.44.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OBIO shares. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a research note on Friday, November 15th.

Hedge Funds Weigh In On Orchestra BioMed

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $343,000 after purchasing an additional 3,245 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after buying an additional 8,107 shares during the last quarter. SG Americas Securities LLC bought a new stake in Orchestra BioMed in the 3rd quarter valued at approximately $52,000. Geode Capital Management LLC boosted its position in Orchestra BioMed by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after acquiring an additional 11,002 shares during the last quarter. Finally, ABLE Financial Group LLC bought a new position in shares of Orchestra BioMed during the 3rd quarter worth approximately $69,000. Institutional investors own 53.55% of the company’s 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.