David P. Hochman Acquires 4,000 Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David P. Hochman bought 4,000 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $4.66 per share, with a total value of $18,640.00. Following the completion of the transaction, the insider now owns 579,498 shares in the company, valued at approximately $2,700,460.68. This trade represents a 0.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Orchestra BioMed Price Performance

Shares of NASDAQ:OBIO traded up $0.07 during trading on Thursday, reaching $4.77. The company had a trading volume of 33,010 shares, compared to its average volume of 74,466. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $10.06. The stock's fifty day moving average price is $5.51 and its 200 day moving average price is $6.15. The firm has a market capitalization of $181.33 million, a price-to-earnings ratio of -2.96 and a beta of 0.44.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03. The company 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, equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OBIO shares. Chardan Capital reiterated 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 reissued a "buy" rating and set a $14.00 price objective on shares of Orchestra BioMed in a research report on Friday, November 15th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OBIO. RTW Investments LP lifted its holdings in shares of Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company's stock valued at $42,180,000 after buying an additional 2,585,519 shares during the period. State Street Corp raised its position in Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company's stock worth $2,208,000 after acquiring an additional 47,308 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 37,906 shares during the period. Barclays PLC boosted its position in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company's stock worth $163,000 after purchasing an additional 23,448 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth $163,000. 53.55% of the stock is owned by hedge funds and other institutional investors.

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.