Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $13.00 Consensus Price Target from Brokerages

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have received a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $13.00.

OBIO has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. B. Riley Financial lowered their price objective on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Finally, Wall Street Zen cut Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Orchestra BioMed Trading Up 5.3%

NASDAQ OBIO opened at $6.12 on Thursday. Orchestra BioMed has a 12 month low of $2.20 and a 12 month high of $6.25. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The company has a market capitalization of $367.81 million, a price-to-earnings ratio of -7.20 and a beta of 0.54. The company’s fifty day moving average price is $4.50 and its two-hundred day moving average price is $4.30.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results 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 business had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, research analysts predict that Orchestra BioMed will post -1.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total value of $74,100.00. Following the completion of the sale, the insider owned 1,134,402 shares in the company, valued at approximately $5,603,945.88. This represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David P. Hochman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was purchased at an average cost of $4.79 per share, with a total value of $47,900.00. Following the purchase, the insider directly owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Orchestra BioMed

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after buying an additional 7,036 shares in the last quarter. Creative Planning purchased a new stake in Orchestra BioMed in the 2nd quarter worth about $40,000. XTX Topco Ltd acquired a new stake in Orchestra BioMed during the 2nd quarter worth about $45,000. Marshall Wace LLP acquired a new stake in Orchestra BioMed during the 2nd quarter worth about $133,000. Finally, NewEdge Advisors LLC acquired a new stake in Orchestra BioMed during the 2nd quarter worth about $118,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

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.