Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $13.17.

A number of equities research analysts recently issued reports on the stock. 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. B. Riley Financial lifted their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Orchestra BioMed in a research note on Monday, October 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a report on Tuesday, August 11th.

Orchestra BioMed Stock Performance

NASDAQ:OBIO opened at $5.95 on Monday. The company has a market cap of $357.60 million, a price-to-earnings ratio of -7.00 and a beta of 0.52. Orchestra BioMed has a 1 year low of $2.86 and a 1 year high of $6.50. The stock’s 50 day simple moving average is $5.37 and its two-hundred day simple moving average is $4.52. 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 posted its earnings results on Monday, August 10th. The company reported ($0.38) EPS 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 firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.14 million. As a group, equities analysts anticipate that Orchestra BioMed will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 1,134,402 shares of the company’s stock, valued at $5,603,945.88. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David P. Hochman acquired 10,000 shares of Orchestra BioMed stock in a transaction on Thursday, September 3rd. The shares were bought at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the purchase, the insider directly owned 1,070,746 shares of the company’s stock, valued at $5,128,873.34. The trade was a 0.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 45,000 shares of company stock valued at $230,850. 7.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBIO. Flat Footed LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at approximately $1,084,670. Rice Hall James & Associates LLC bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $1,830,000. BlackRock Inc. bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Orchestra BioMed during the 2nd quarter valued at approximately $2,771,000. Finally, Bank of New York Mellon Corp purchased a new stake in Orchestra BioMed during the 2nd quarter valued at $372,000. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

About Orchestra BioMed

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.