Insider Selling: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Sells $11,280.00 in Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Director Eric S. Fain sold 2,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $5.64, for a total value of $11,280.00. Following the completion of the transaction, the director now directly owns 44,810 shares in the company, valued at approximately $252,728.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Orchestra BioMed Stock Performance

OBIO stock opened at $5.78 on Friday. Orchestra BioMed Holdings, Inc. has a 1-year low of $4.22 and a 1-year high of $11.69. The business has a 50-day moving average price of $6.86 and a 200 day moving average price of $6.22.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Monday, August 12th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 89.28% and a negative net margin of 2,673.26%. On average, equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.67 EPS for the current year.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC purchased a new position in shares of Orchestra BioMed in the 2nd quarter worth approximately $163,000. Catalytic Wealth RIA LLC acquired a new stake in Orchestra BioMed in the first quarter valued at approximately $117,000. Rhumbline Advisers grew its holdings in Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after purchasing an additional 17,405 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after purchasing an additional 3,245 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Orchestra BioMed by 115.7% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. HC Wainwright assumed coverage on shares of Orchestra BioMed in a research note on Thursday, August 22nd. They issued a “buy” rating and a $14.00 price target on the stock. Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, June 12th. Finally, B. Riley began coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 price target for the company.

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.