Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO – Get Free Report) insider Darren Sherman sold 6,837 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $6.10, for a total value of $41,705.70. Following the sale, the insider now owns 793,275 shares of the company’s stock, valued at $4,838,977.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Darren Sherman also recently made the following trade(s):
- On Friday, September 6th, Darren Sherman sold 6,819 shares of Orchestra BioMed stock. The shares were sold at an average price of $5.65, for a total transaction of $38,527.35.
Orchestra BioMed Price Performance
NASDAQ:OBIO opened at $5.61 on Friday. The company’s fifty day moving average price is $7.00 and its 200-day moving average price is $6.23. Orchestra BioMed Holdings, Inc. has a 1-year low of $4.22 and a 1-year high of $11.69. The firm has a market capitalization of $200.77 million, a P/E ratio of -3.79 and a beta of 0.44.
Analysts Set New Price Targets
Several research firms have issued reports on OBIO. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday, June 12th. B. Riley assumed coverage on Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price for the company. Finally, HC Wainwright started coverage on Orchestra BioMed in a research note on Thursday, August 22nd. They set a “buy” rating and a $14.00 price target on the stock.
Read Our Latest Research Report on OBIO
Hedge Funds Weigh In On Orchestra BioMed
A number of large investors have recently bought and sold shares of OBIO. SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $163,000. Catalytic Wealth RIA LLC purchased a new stake in Orchestra BioMed in the 1st quarter worth $117,000. Rhumbline Advisers raised its position in Orchestra BioMed by 192.7% during the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after acquiring an additional 17,405 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 3,245 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of 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 during the period. Institutional investors and hedge funds 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.
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