Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Has Average Price Target of $13.17

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.17.

OBIO has been the topic of a number of research reports. Chardan Capital reiterated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Friday, October 23rd. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. B. Riley Financial boosted their target price on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Monday, October 5th.

Insider Activity

In related news, insider David Hochman acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was acquired at an average price of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was 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 $5,603,945.88. The trade was a 1.31% 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. In the last three months, insiders sold 45,000 shares of company stock valued at $255,600. Insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds have recently bought and sold shares of OBIO. BlackRock Inc. purchased 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 acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at $2,771,000. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed during the second quarter worth $1,830,000. Knott David M Jr boosted its holdings in Orchestra BioMed by 1.5% during the first 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 in the last quarter. Finally, Flat Footed LLC purchased a new stake in Orchestra BioMed during the second quarter worth $1,084,670. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Trading Down 2.3%

Orchestra BioMed stock opened at $5.56 on Friday. The stock has a 50-day moving average price of $5.71 and a 200 day moving average price of $4.55. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80.

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, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.14 million. Research analysts predict that Orchestra BioMed will post -1.53 earnings per share for the current year.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.