Key Points
- Insider buying: David Hochman purchased 10,000 Orchestra BioMed shares at an average price of $4.79, increasing his position by 0.94% to 1,070,746 shares.
- Financial performance: The company reported a quarterly loss of $0.38 per share, slightly better than estimates, but revenue of $0.09 million fell short of expectations. Analysts project a full-year loss of $1.54 per share.
- Market outlook: OBIO recently traded at $5.43, while analysts maintain a “Moderate Buy” consensus and an average price target of $13.00; institutional investors own 53.2% of the stock.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction dated Thursday, September 3rd. The shares were purchased at an average cost of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider owned 1,070,746 shares of the company's stock, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Orchestra BioMed Stock Up 6.9%
OBIO stock opened at $5.43 on Wednesday. The stock has a market cap of $326.37 million, a PE ratio of -6.39 and a beta of 0.54. The firm's 50-day simple moving average is $4.41 and its 200 day simple moving average is $4.27. Orchestra BioMed Holdings, Inc. has a fifty-two week low of $2.20 and a fifty-two week high of $5.78. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The firm had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.14 million. As a group, sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.54 EPS for the current year.
Hedge Funds Weigh In On Orchestra BioMed
Several institutional investors and hedge funds have recently bought and sold shares of OBIO. HighTower Advisors LLC increased its holdings in shares of Orchestra BioMed by 93.6% in the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company's stock valued at $153,000 after purchasing an additional 17,100 shares during the period. AXQ Capital LP purchased a new position in Orchestra BioMed during the second quarter valued at approximately $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Orchestra BioMed during the second quarter valued at approximately $2,771,000. Bank of America Corp DE acquired a new position in Orchestra BioMed in the 2nd quarter valued at approximately $103,000. Finally, Flat Footed LLC acquired a new position in Orchestra BioMed in the 2nd quarter valued at approximately $1,084,670. Hedge funds and other institutional investors own 53.20% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on OBIO shares. B. Riley Financial cut their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Barclays upped their target price on Orchestra BioMed from $12.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. Weiss Ratings restated a "sell (e+)" rating on shares of Orchestra BioMed in a report on Friday, July 17th. Wall Street Zen downgraded shares of Orchestra BioMed from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Orchestra BioMed in a research note on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.
Get Our Latest Report on OBIO
Orchestra BioMed Company Profile
(
Get Free Report)
Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company's research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed's pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.
Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.
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