Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David P. Hochman bought 2,500 shares of the business's stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $4.91 per share, with a total value of $12,275.00. Following the completion of the purchase, the insider now owns 570,498 shares in the company, valued at $2,801,145.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Orchestra BioMed Stock Up 3.0 %
NASDAQ OBIO opened at $4.83 on Friday. The stock has a market cap of $182.72 million, a P/E ratio of -3.26 and a beta of 0.44. Orchestra BioMed Holdings, Inc. has a twelve month low of $4.22 and a twelve month high of $11.69. The company's 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.11.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.04). Orchestra BioMed had a negative return on equity of 89.28% and a negative net margin of 2,673.26%. The company had revenue of $0.78 million for the quarter, compared to the consensus estimate of $1.04 million. Research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.67 earnings per share for the current year.
Institutional Investors Weigh In On Orchestra BioMed
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Large investors have recently made changes to their positions in the company. SkyView Investment Advisors LLC acquired a new position in Orchestra BioMed in the second quarter valued at about $163,000. The Manufacturers Life Insurance Company raised its stake in shares of Orchestra BioMed by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company's stock valued at $343,000 after acquiring an additional 3,245 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Orchestra BioMed by 192.7% in the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company's stock worth $215,000 after acquiring an additional 17,405 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company's stock worth $576,000 after acquiring an additional 37,906 shares in the last quarter. Finally, Catalytic Wealth RIA LLC bought a new stake in Orchestra BioMed during the 1st quarter worth approximately $117,000. Institutional investors own 53.55% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on OBIO. HC Wainwright started coverage on shares of Orchestra BioMed in a report on Thursday, August 22nd. They set a "buy" rating and a $14.00 price objective on the stock. B. Riley started coverage on Orchestra BioMed in a report on Thursday, July 25th. They issued a "buy" rating and a $15.00 price target for the company. Finally, Chardan Capital reiterated a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, June 12th.
Read Our Latest Report on Orchestra BioMed
About Orchestra BioMed
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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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