Orchestra BioMed (NASDAQ:OBIO) Issues Quarterly Earnings Results

Orchestra BioMed (NASDAQ:OBIO) posted its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10, FiscalAI reports. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.13 million.

Orchestra BioMed Trading Up 9.5%

Shares of NASDAQ:OBIO traded up $0.55 on Wednesday, reaching $6.28. 154,679 shares of the company traded hands, compared to its average volume of 291,111. The business’s 50-day simple moving average is $5.77 and its 200 day simple moving average is $4.59. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. The stock has a market capitalization of $385.60 million, a P/E ratio of -7.38 and a beta of 0.56. The company has a current ratio of 8.26, a quick ratio of 8.24 and a debt-to-equity ratio of 1.80.

Insider Buying and Selling

In other news, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total value of $74,100.00. Following the completion of the sale, the insider owned 1,134,402 shares of the company’s stock, valued at approximately $5,603,945.88. The trade was a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Eric Fain bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $5.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director directly owned 119,630 shares in the company, valued at $598,150. This trade represents a 20.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. Company insiders own 7.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Orchestra BioMed Company Profile

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.