Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $13.00.

OBIO has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Finally, B. Riley Financial lowered their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $5.90 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $6.25. The firm has a market capitalization of $354.62 million, a PE ratio of -6.94 and a beta of 0.54. The business’s 50 day moving average price is $4.54 and its 200-day moving average price is $4.32.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%.The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. As a group, equities research analysts expect that Orchestra BioMed will post -1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $4.94, for a total transaction of $74,100.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman bought 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was bought at an average cost of $4.79 per share, with a total value of $47,900.00. Following the completion of the purchase, the insider directly owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. The trade was a 0.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently bought and sold shares of OBIO. Knott David M Jr increased its holdings in shares of Orchestra BioMed by 1.5% during the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after buying an additional 3,651 shares during the last quarter. Algert Global LLC lifted its holdings in Orchestra BioMed by 94.4% in the second quarter. Algert Global LLC now owns 28,486 shares of the company’s stock valued at $123,000 after acquiring an additional 13,830 shares during the last quarter. HighTower Advisors LLC lifted its holdings in Orchestra BioMed by 93.6% in the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock valued at $153,000 after acquiring an additional 17,100 shares during the last quarter. Rice Hall James & Associates LLC purchased a new position in Orchestra BioMed in the first quarter worth approximately $81,000. Finally, Canada Pension Plan Investment Board purchased a new position in Orchestra BioMed in the second quarter worth approximately $91,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage healthcare company developing products for the treatment of cardiovascular and other serious medical conditions. The company uses a partnership-oriented business model, working with medical device and healthcare companies to advance novel therapies toward commercialization.

Orchestra BioMed’s leading program is BackBeat Cardiac Neuromodulation Therapy, an investigational device-based treatment designed to provide sustained reductions in blood pressure for patients with hypertension.