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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David P. Hochman acquired 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $4.91 per share, with a total value of $24,550.00. Following the acquisition, the insider now owns 575,498 shares of the company's stock, valued at approximately $2,825,695.18. This trade represents a 0.88 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Orchestra BioMed Trading Up 0.8 %

Shares of OBIO stock traded up $0.04 during trading hours on Thursday, hitting $4.80. 48,858 shares of the company were exchanged, compared to its average volume of 74,414. Orchestra BioMed Holdings, Inc. has a 52 week low of $4.22 and a 52 week high of $10.44. The business has a 50 day moving average of $5.56 and a two-hundred day moving average of $6.25. The company has a market capitalization of $182.47 million, a PE ratio of -2.98 and a beta of 0.44.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OBIO. RTW Investments LP boosted its position in Orchestra BioMed by 46.0% during the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company's stock worth $42,180,000 after acquiring an additional 2,585,519 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Orchestra BioMed by 2.0% in the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company's stock worth $2,916,000 after purchasing an additional 11,002 shares in the last quarter. State Street Corp boosted its holdings in Orchestra BioMed by 12.4% during the third quarter. State Street Corp now owns 429,613 shares of the company's stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Orchestra BioMed by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company's stock valued at $1,115,000 after purchasing an additional 8,107 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Orchestra BioMed by 115.7% in the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company's stock valued at $576,000 after purchasing an additional 37,906 shares in the last quarter. 53.55% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. 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. Chardan Capital restated a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, November 13th.

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.