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

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider David P. Hochman purchased 4,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were purchased at an average cost of $4.66 per share, for a total transaction of $18,640.00. Following the completion of the transaction, the insider now directly owns 579,498 shares of the company’s stock, valued at approximately $2,700,460.68. This represents a 0.70 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Orchestra BioMed Stock Up 1.5 %

Shares of Orchestra BioMed stock traded up $0.07 on Thursday, hitting $4.77. The stock had a trading volume of 33,010 shares, compared to its average volume of 74,466. The business’s 50 day moving average is $5.52 and its two-hundred day moving average is $6.16. The stock has a market cap of $181.33 million, a price-to-earnings ratio of -2.96 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The business had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million. As a group, equities analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a report on Friday, November 15th.

Hedge Funds Weigh In On Orchestra BioMed

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased 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 worth $576,000 after purchasing an additional 37,906 shares during the period. 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 valued at $215,000 after purchasing an additional 17,405 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Orchestra BioMed by 8.4% in the 2nd 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. SkyView Investment Advisors LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth $163,000. Finally, SG Americas Securities LLC bought a new position in Orchestra BioMed in the third quarter valued at about $52,000. Institutional investors 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.