Orchestra BioMed (NASDAQ:OBIO – Get 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.
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
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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