Orchestra BioMed (NASDAQ:OBIO) Director David Pacitti Purchases 20,000 Shares of Stock

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO – Get Free Report) Director David Pacitti bought 20,000 shares of the stock in a transaction on Monday, November 9th. The shares were purchased at an average price of $5.00 per share, with a total value of $100,000.00. Following the acquisition, the director owned 74,750 shares in the company, valued at approximately $373,750. This represents a 36.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock opened at $5.70 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The stock’s 50-day moving average is $5.75 and its 200-day moving average is $4.58. Orchestra BioMed Holdings, Inc. has a one year low of $3.46 and a one year high of $6.50.

Orchestra BioMed (NASDAQ:OBIO – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. Research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on OBIO. B. Riley Financial lifted their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Tuesday, September 15th. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Friday, October 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Monday, October 5th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Get Our Latest Report on Orchestra BioMed

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OBIO. BlackRock Inc. bought a new stake in Orchestra BioMed in the 2nd quarter valued at $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Orchestra BioMed during the second quarter worth about $2,771,000. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth approximately $1,830,000. Knott David M Jr increased its holdings in shares of Orchestra BioMed by 1.5% during the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after purchasing an additional 3,651 shares during the period. Finally, Flat Footed LLC acquired a new stake in shares of Orchestra BioMed in the second quarter valued at approximately $1,084,670. 53.20% of the stock is owned by institutional investors.

About Orchestra BioMed

(Get Free Report)

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.

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