This is a routine Form 144 from a director selling stock obtained through compensation vesting; the dollar value is small and does not indicate material insider concern. Monitor for the actual Form 4 filing to confirm the sale occurred and for any acceleration of sales later in the quarter. Given the stock's negative alpha history on prior reports, this filing alone does not warrant a trade.
Price Chart
Executive Summary
Orchestra BioMed director Darren Sherman filed Form 144 to sell 15,000 common shares (~$58K value), acquired via restricted stock vesting in 2024. The sale is small relative to the company's $258M market cap but represents a director's first known disclosed sale intent, occurring in a period with weak institutional patience (three top holders trimmed in Q1) and after the stock has underperformed historically around prior reports.
Key Facts
- Reporting person: Darren Sherman (Officer/Director)
- Proposed sale: 15,000 shares of common stock
- Approximate dollar value: $58,049.53–$64,800.00
- Shares acquired via restricted stock vesting on 09/09/2024 and 11/25/2024 (compensation)
- Broker: Fidelity Brokerage Services LLC
- Filed: 2026-07-01, with intent to sell as early as same day
- Market cap: ~$258M; this sale represents ~0.1% of shares outstanding
Financial Impact
Small — ~$58K–$65K or less than 0.1% of market cap
Risk Factors
- Form 144 is intent, not a completed trade — the sale may never occur
- Low confidence in exact dollar amount due to placeholder formatting in the filing
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 144 Filing (Primary) | 0001959173-26-005000 |
| Document: 0001959173-26-005000-index.html | 0001959173-26-005000 |
| Document: 0001959173-26-005000.txt | 0001959173-26-005000 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 1, 2026 26d ago | 144 | $6.35 $5.73 | ▼ −9.76% | ▼ −11.06% | $5.78 (−8.98%) |
Oct 1, 2026 26d ago | 8-K | $6.35 $5.73 | ▼ −9.76% | ▼ −11.06% | $5.78 (−8.98%) |
Sep 22, 2026 5w ago | Institutional Cluster | $6.22 $6.08 | ▼ −2.25% | ▼ −1.06% | $5.78 (−7.07%) |
Sep 8, 2026 7w ago | Insider Cluster | $5.43 $6.04 | ▲ +11.23% | ▲ +12.35% | $5.78 (+6.45%) |
Sep 1, 2026 8w ago | 144 | $4.90 $5.45 | ▼ −11.22% | ▼ −11.14% | $5.78 (−17.96%) |
Jul 1, 2026 16w ago | 144 | $4.30 $3.96 | ▼ −7.91% | ▼ −8.17% | $5.78 (+34.42%) |
Jun 2, 2026 21w ago | Insider Cluster | $3.86 $4.02 | ▲ +4.15% | ▲ +7.96% | $5.78 (+49.74%) |
May 19, 2026 23w ago | Insider Cluster | $4.00 $4.06 | ▲ +1.50% | ▼ −0.75% | $5.78 (+44.50%) |
Apr 29, 2026 25w ago | DEFA14A | $3.99 $3.93 | ▼ −1.50% | ▼ −3.23% | $5.78 (+44.86%) |
Apr 23, 2026 26w ago | Press Release | $4.15 $3.80 | ▼ −8.43% | ▼ −9.91% | $5.78 (+39.28%) |
US Market Status
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