Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Has Consensus Price Target of $13.17 According to Analysts

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $13.17.

Several equities analysts have issued reports on OBIO shares. B. Riley Financial increased their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Monday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th.

Orchestra BioMed Stock Down 3.1%

Orchestra BioMed stock opened at $5.66 on Monday. The stock has a market capitalization of $340.17 million, a PE ratio of -6.66 and a beta of 0.52. Orchestra BioMed has a 12 month low of $2.66 and a 12 month high of $6.50. The business has a 50 day simple moving average of $5.30 and a 200-day simple moving average of $4.50. 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 (NASDAQ:OBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.01. The business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. On average, analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the completion of the transaction, the insider owned 1,119,402 shares of the company’s stock, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman bought 10,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the transaction, the insider owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. This represents a 0.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have sold 45,000 shares of company stock valued at $230,850. 7.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its stake in Orchestra BioMed by 93.6% during the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after purchasing an additional 17,100 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of Orchestra BioMed in the second quarter valued at about $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Orchestra BioMed in the second quarter valued at about $2,771,000. Bank of America Corp DE purchased a new position in shares of Orchestra BioMed in the second quarter worth about $103,000. Finally, Flat Footed LLC purchased a new position in shares of Orchestra BioMed in the second quarter worth about $1,084,670. 53.20% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biomedical innovation company that develops transformative therapies and medical devices for patients with cardiovascular and other serious medical conditions. The company uses a partnership-driven business model, collaborating with medical device and pharmaceutical companies to advance products through clinical development and toward commercialization.

Its lead programs include Virtue SAB, an investigational drug-device combination designed to deliver sirolimus to the vessel wall without the use of a permanent drug-eluting implant.