Orchestra BioMed (NASDAQ:OBIO) Announces Earnings Results, Beats Estimates By $0.03 EPS

Orchestra BioMed (NASDAQ:OBIOGet Free Report) posted its earnings results on Tuesday. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03, Zacks reports. Orchestra BioMed had a negative return on equity of 102.19% and a negative net margin of 2,179.33%. The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million.

Orchestra BioMed Stock Up 7.4 %

OBIO stock traded up $0.42 during mid-day trading on Wednesday, hitting $6.08. The company had a trading volume of 39,586 shares, compared to its average volume of 76,209. Orchestra BioMed has a 12-month low of $4.22 and a 12-month high of $11.69. The company has a 50-day moving average price of $5.40 and a 200 day moving average price of $6.23. The company has a market capitalization of $230.01 million, a price-to-earnings ratio of -3.81 and a beta of 0.42.

Analyst Ratings Changes

OBIO has been the subject of a number of analyst reports. HC Wainwright started coverage on shares of Orchestra BioMed in a research note on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price for the company. B. Riley assumed coverage on Orchestra BioMed in a report on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price for the company.

Check Out Our Latest Analysis on OBIO

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,804 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $5.48, for a total value of $37,285.92. Following the completion of the sale, the insider now owns 772,691 shares of the company’s stock, valued at $4,234,346.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 24,260 shares of company stock worth $138,573 over the last ninety days. Company insiders own 6.70% of the company’s stock.

About Orchestra BioMed

(Get Free Report)

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company’s flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.

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Earnings History for Orchestra BioMed (NASDAQ:OBIO)

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