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

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have earned an average rating of "Buy" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $14.20.

Several research analysts have issued reports on the company. HC Wainwright reissued a "buy" rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. BTIG Research assumed coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They issued a "buy" rating and a $12.00 price target for the company. Chardan Capital restated a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Tuesday, May 13th. B. Riley upgraded Orchestra BioMed to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Barclays lowered their target price on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating on the stock in a report on Monday, May 5th.

Orchestra BioMed Stock Down 3.1%

Shares of OBIO traded down $0.10 during trading hours on Friday, hitting $2.94. The company had a trading volume of 51,778 shares, compared to its average volume of 180,001. The firm has a fifty day moving average price of $2.95 and a 200-day moving average price of $3.86. The stock has a market capitalization of $112.44 million, a price-to-earnings ratio of -1.65 and a beta of 0.61. Orchestra BioMed has a 52-week low of $2.37 and a 52-week high of $8.87. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.34 and a current ratio of 3.35.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). Orchestra BioMed had a negative return on equity of 189.26% and a negative net margin of 2,297.85%. The business had revenue of $0.87 million during the quarter, compared to analysts' expectations of $0.39 million. On average, equities research analysts forecast that Orchestra BioMed will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC lifted its holdings in Orchestra BioMed by 34.3% in the 4th quarter. HighTower Advisors LLC now owns 68,500 shares of the company's stock valued at $274,000 after purchasing an additional 17,500 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Orchestra BioMed by 354.5% during the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company's stock worth $198,000 after buying an additional 38,535 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Orchestra BioMed by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock valued at $2,290,000 after acquiring an additional 5,222 shares during the period. Wells Fargo & Company MN raised its position in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after purchasing an additional 3,992 shares during the last quarter. Finally, Barclays PLC grew its position in Orchestra BioMed by 18.9% during the 4th quarter. Barclays PLC now owns 37,786 shares of the company's stock worth $152,000 after purchasing an additional 6,001 shares during the last quarter. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc operates as a biomedical innovation company. The company's flagship product candidates include BackBeat Cardiac Neuromodulation Therapy (CNT) for the treatment of hypertension (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.