Orchestra BioMed (NASDAQ:OBIO) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Orchestra BioMed from “sell” to “hold.” Other analysts remain more bullish: MarketBeat reports a “Moderate Buy” consensus and an average price target of $13.29.
• Shares rose 17.9%, opening at $7.25, near the company’s 12-month high of $7.37.
• The company beat quarterly EPS expectations, reporting a loss of $0.30 per share versus estimates of a $0.40 loss, but revenue of $0.09 million fell short of the $0.13 million consensus.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also recently commented on OBIO. B. Riley Financial increased their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a "buy" rating in a report on Tuesday, September 15th. Chardan Capital reissued a "buy" rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Friday, October 23rd. BTIG Research boosted their price target on Orchestra BioMed from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Friday. HC Wainwright upped their price objective on Orchestra BioMed from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday. Finally, Piper Sandler restated an "overweight" rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Orchestra BioMed has an average rating of "Moderate Buy" and a consensus price target of $13.29.

Orchestra BioMed Stock Up 17.9%

OBIO stock opened at $7.25 on Friday. The company's 50 day simple moving average is $5.86 and its 200-day simple moving average is $4.63. Orchestra BioMed has a 12 month low of $3.46 and a 12 month high of $7.37. The company has a current ratio of 7.25, a quick ratio of 8.24 and a debt-to-equity ratio of 4.58.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 186.93%. The business had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.13 million. On average, sell-side analysts anticipate that Orchestra BioMed will post -1.53 EPS for the current year.

Insiders Place Their Bets

In related news, Director Eric Fain acquired 20,000 shares of the company's stock in a transaction dated Monday, November 9th. The stock was bought at an average price of $5.00 per share, with a total value of $100,000.00. Following the purchase, the director directly owned 119,630 shares in the company, valued at $598,150. The trade was a 20.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $5.74, for a total transaction of $86,100.00. Following the transaction, the insider owned 1,104,402 shares in the company, valued at approximately $6,339,267.48. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have purchased 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. 7.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently bought and sold shares of OBIO. BlackRock Inc. purchased a new position in Orchestra BioMed during the second quarter worth approximately $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at $2,771,000. Rice Hall James & Associates LLC purchased a new stake in shares of Orchestra BioMed during the 2nd quarter valued at $1,830,000. Knott David M Jr increased its holdings in shares of Orchestra BioMed by 1.5% during the 1st 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 during the last quarter. Finally, Flat Footed LLC acquired a new stake in shares of Orchestra BioMed during the 2nd quarter worth $1,084,670. Institutional investors and hedge funds own 53.20% of the company's stock.

Orchestra BioMed Company Profile

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company's lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.

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