Key Points
- Director Eric Fain bought 20,000 shares for $100,000 at an average price of $5.00, increasing his direct holdings by 20.07% to 119,630 shares.
- Analysts give Orchestra BioMed a consensus “Moderate Buy” rating and a $13.17 average price target; six rate it Buy and one rates it Sell.
- The company reported a quarterly loss of $0.38 per share, slightly better than estimates, while revenue of $90,000 came in below the $140,000 consensus.
Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) insider David Hochman acquired 5,000 shares of the business's stock in a transaction on Monday, November 9th. The shares were purchased at an average price of $5.00 per share, for a total transaction of $25,000.00. Following the transaction, the insider directly owned 437,916 shares of the company's stock, valued at approximately $2,189,580. The trade was a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Orchestra BioMed Stock Performance
Shares of NASDAQ:OBIO opened at $5.70 on Tuesday. The business has a 50 day simple moving average of $5.75 and a two-hundred day simple moving average of $4.58. Orchestra BioMed Holdings, Inc. has a 1 year low of $3.46 and a 1 year high of $6.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.01. The firm had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Equities analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on OBIO. Piper Sandler restated an "overweight" rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Weiss Ratings upgraded shares of Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 10th. HC Wainwright reiterated a "buy" rating and set a $10.00 price objective on shares of Orchestra BioMed in a research note on Monday, October 5th. B. Riley Financial lifted their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Finally, Chardan Capital reissued a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Friday, October 23rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Orchestra BioMed has an average rating of "Moderate Buy" and a consensus target price of $13.17.
Check Out Our Latest Stock Analysis on OBIO
Hedge Funds Weigh In On Orchestra BioMed
Several hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC acquired a new position in Orchestra BioMed during the 1st quarter valued at approximately $81,000. Canada Pension Plan Investment Board acquired a new stake in shares of Orchestra BioMed during the second quarter worth $91,000. Bank of America Corp DE acquired a new stake in shares of Orchestra BioMed during the second quarter worth $103,000. AXQ Capital LP acquired a new stake in shares of Orchestra BioMed during the second quarter worth $110,000. Finally, Algert Global LLC grew its holdings in shares of Orchestra BioMed by 94.4% during the second quarter. Algert Global LLC now owns 28,486 shares of the company's stock valued at $123,000 after buying an additional 13,830 shares during the last quarter. Institutional investors and hedge funds own 53.20% of the company's stock.
Orchestra BioMed Company Profile
(
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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