Insider Selling: Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Insider Sells 6,819 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) insider Darren Sherman sold 6,819 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $5.65, for a total transaction of $38,527.35. Following the completion of the sale, the insider now directly owns 779,495 shares of the company’s stock, valued at $4,404,146.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Darren Sherman also recently made the following trade(s):

• On Wednesday, September 4th, Darren Sherman sold 6,837 shares of Orchestra BioMed stock. The stock was sold at an average price of $6.10, for a total transaction of $41,705.70.

Orchestra BioMed Stock Performance

Shares of OBIO stock opened at $5.61 on Friday. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $4.22 and a fifty-two week high of $11.69. The firm has a market capitalization of $200.77 million, a price-to-earnings ratio of -3.79 and a beta of 0.44. The stock’s 50-day simple moving average is $7.00 and its 200-day simple moving average is $6.23.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings data 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 analyst estimates of $1.04 million. As a group, equities analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on OBIO. HC Wainwright began coverage on Orchestra BioMed in a research report on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price on the stock. B. Riley started coverage on shares of Orchestra BioMed in a report on Thursday, July 25th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, Chardan Capital reissued a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, June 12th.

Institutional Trading of Orchestra BioMed

Several large investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new position in shares of Orchestra BioMed in the second quarter worth about $163,000. The Manufacturers Life Insurance Company increased its holdings in Orchestra BioMed by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after buying an additional 3,245 shares during the period. Rhumbline Advisers raised its position in Orchestra BioMed by 192.7% during the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 acquiring an additional 37,906 shares during the period. Finally, Catalytic Wealth RIA LLC purchased a new stake in shares of Orchestra BioMed in the 1st quarter valued at $117,000. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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.