Orchestra BioMed’s (OBIO) “Neutral” Rating Reiterated at BTIG Research

BTIG Research reiterated their neutral rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note issued to investors on Wednesday, MarketBeat.com reports.

Other research analysts also recently issued research reports about the stock. Chardan Capital reissued a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, August 13th. HC Wainwright reissued a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. Finally, Barclays decreased their price objective on shares of Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Orchestra BioMed currently has an average rating of “Buy” and a consensus target price of $14.00.

Orchestra BioMed Stock Up 2.4%

Orchestra BioMed stock opened at $2.55 on Wednesday. The company has a market cap of $98.53 million, a P/E ratio of -1.39 and a beta of 0.62. Orchestra BioMed has a 1-year low of $2.37 and a 1-year high of $7.04. The company has a fifty day simple moving average of $2.91 and a 200 day simple moving average of $3.39. The company has a current ratio of 2.10, a quick ratio of 2.09 and a debt-to-equity ratio of 48.76.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.01. The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. Research analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Insider Activity at Orchestra BioMed

In related news, insider David P. Hochman bought 20,000 shares of Orchestra BioMed stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $2.75 per share, with a total value of $55,000.00. Following the acquisition, the insider owned 349,331 shares of the company’s stock, valued at approximately $960,660.25. This represents a 6.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.10% of the company’s stock.

Institutional Trading of Orchestra BioMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in shares of Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock worth $2,290,000 after buying an additional 5,222 shares during the period. Millennium Management LLC bought a new stake in shares of Orchestra BioMed during the 4th quarter worth about $86,000. IFP Advisors Inc boosted its holdings in shares of Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company’s stock worth $693,000 after buying an additional 83,481 shares during the period. Northern Trust Corp boosted its holdings in shares of Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company’s stock worth $947,000 after buying an additional 5,725 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after buying an additional 3,992 shares during the period. Institutional investors own 53.20% 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.