Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Seven analysts give Orchestra BioMed a consensus “Moderate Buy” rating, with six buys and one sell. The average 12-month price target is $13.17 versus the stock’s reported price of $5.95.
• Institutional ownership is substantial: Hedge funds and other institutional investors own 53.2% of the company, with BlackRock, UBS Asset Management, Rice Hall James, Flat Footed, and Simplify Asset Management among recent investors.
• The company remains unprofitable but exceeded quarterly EPS expectations: Orchestra BioMed reported a quarterly loss of $0.38 per share, slightly better than the expected $0.39 loss, though revenue missed estimates and analysts project a full-year loss of $1.53 per share.

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat.com 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 ratings on the stock in the last year is $13.17.

Several brokerages have weighed in on OBIO. Piper Sandler restated an "overweight" rating and issued a $10.00 target price (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Orchestra BioMed from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 10th. Finally, B. Riley Financial lifted their target price 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.

Insider Buying and Selling at Orchestra BioMed

In other news, insider David P. Hochman acquired 10,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average cost of $4.79 per share, with a total value of $47,900.00. Following the completion of the acquisition, the insider owned 1,070,746 shares of the company's stock, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Darren Sherman sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the transaction, the insider directly owned 1,119,402 shares of the company's stock, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. 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 have sold 45,000 shares of company stock valued at $230,850 over the last quarter. 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 the stock. BlackRock Inc. acquired a new position in shares of Orchestra BioMed during the second quarter valued at approximately $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Orchestra BioMed in the 2nd quarter valued at $2,771,000. Rice Hall James & Associates LLC purchased a new position in Orchestra BioMed in the 2nd quarter valued at $1,830,000. Flat Footed LLC purchased a new position in Orchestra BioMed in the 2nd quarter valued at $1,084,670. Finally, Simplify Asset Management Inc. acquired a new stake in Orchestra BioMed during the 1st quarter worth $932,000. Hedge funds and other institutional investors own 53.20% of the company's stock.

Orchestra BioMed Price Performance

OBIO opened at $5.95 on Monday. The firm has a market capitalization of $357.60 million, a PE ratio of -7.00 and a beta of 0.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The business's 50-day moving average is $5.18 and its two-hundred day moving average is $4.48. Orchestra BioMed has a 1 year low of $2.66 and a 1 year high of $6.50.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released 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. The business had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.14 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. Research analysts anticipate that Orchestra BioMed will post -1.53 earnings per share for the current fiscal year.

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.

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