Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $13.60 Average Price Target from Brokerages

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $13.60.

OBIO has been the subject of several analyst reports. B. Riley Financial cut their target price on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, May 19th. Barclays upped their price target on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a research report on Friday, July 17th. Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research note on Thursday, May 14th.

Orchestra BioMed Stock Performance

NASDAQ:OBIO opened at $3.74 on Wednesday. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $5.42. The stock’s fifty day moving average price is $3.96 and its two-hundred day moving average price is $4.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.03 and a quick ratio of 7.01. The company has a market cap of $223.95 million, a P/E ratio of -3.86 and a beta of 0.49.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.07. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.The company had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.92 million. As a group, analysts expect that Orchestra BioMed will post -1.47 EPS for the current year.

Insider Buying and Selling at Orchestra BioMed

In other news, Director Jason Aryeh purchased 8,971 shares of the business’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $3.90 per share, with a total value of $34,986.90. Following the acquisition, the director directly owned 117,453 shares in the company, valued at approximately $458,066.70. This trade represents a 8.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $3.87, for a total value of $58,050.00. Following the completion of the sale, the insider owned 1,184,327 shares in the company, valued at $4,583,345.49. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders bought a total of 39,636 shares of company stock valued at $158,081 in the last three months. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Orchestra BioMed

Several institutional investors and hedge funds have recently modified their holdings of OBIO. Vanguard Group Inc. grew its holdings in shares of Orchestra BioMed by 28.0% during the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock worth $3,675,000 after purchasing an additional 324,558 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Orchestra BioMed during the third quarter valued at approximately $3,386,000. Pathstone Holdings LLC bought a new stake in Orchestra BioMed during the third quarter valued at approximately $2,495,000. Geode Capital Management LLC grew its stake in Orchestra BioMed by 22.4% in the 4th quarter. Geode Capital Management LLC now owns 473,363 shares of the company’s stock worth $1,965,000 after buying an additional 86,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Orchestra BioMed by 46.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,788 shares of the company’s stock worth $1,095,000 after buying an additional 83,349 shares in the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.