Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• The consensus recommendation for Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) is a "Buy" from five analysts, with an average one-year price target of $14.00.
• Orchestra BioMed reported a quarterly loss of ($0.49) EPS, missing expectations, but achieved revenue of $0.87 million, exceeding analyst predictions.
• Insider David P. Hochman purchased 20,000 shares at an average price of $2.75, increasing his ownership of the stock by 6.07%.

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five analysts that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

OBIO has been the subject of a number of recent research reports. Barclays decreased their price objective on Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Finally, Chardan Capital reiterated a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Tuesday, May 13th.

Orchestra BioMed Stock Down 0.4%

OBIO opened at $2.67 on Wednesday. The business's 50-day simple moving average is $3.05 and its 200-day simple moving average is $3.63. The stock has a market capitalization of $103.17 million, a P/E ratio of -1.50 and a beta of 0.62. 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 has a one year low of $2.37 and a one year high of $7.04.

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

Insider Buying and Selling at Orchestra BioMed

In related news, insider David P. Hochman acquired 20,000 shares of Orchestra BioMed stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the purchase, the insider directly owned 349,331 shares of the company's stock, valued at approximately $960,660.25. This trade represents a 6.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock worth $148,000 after acquiring an additional 3,704 shares in the last quarter. Wells Fargo & Company MN increased its stake 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 in the last quarter. Geode Capital Management LLC raised its holdings in Orchestra BioMed by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock worth $2,290,000 after purchasing an additional 5,222 shares during the last quarter. Northern Trust Corp boosted its position in Orchestra BioMed by 2.5% during the fourth quarter. Northern Trust Corp now owns 236,761 shares of the company's stock worth $947,000 after purchasing an additional 5,725 shares in the last quarter. Finally, Barclays PLC boosted its position in Orchestra BioMed by 18.9% during the fourth quarter. Barclays PLC now owns 37,786 shares of the company's stock worth $152,000 after purchasing an additional 6,001 shares in the last quarter. 53.20% of the stock is 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.

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