Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Darren Sherman Sells 6,837 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) 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.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.04). The company had revenue of $0.78 million for the quarter, compared to analysts’ expectations of $1.04 million. Orchestra BioMed had a negative net margin of 2,673.26% and a negative return on equity of 89.28%. Equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current fiscal year.

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.

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.