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

Key Points

• Orchestra BioMed (NASDAQ:OBIO) has received a consensus recommendation of "Moderate Buy" from six research firms, with an average 12-month price target of $13.50.
• Insider transactions reveal that David P. Hochman purchased 20,000 shares at $2.75 each, increasing his holdings by 6.07% to a total of 349,331 shares.
• Despite reporting earnings that slightly exceeded expectations, shares of Orchestra BioMed are currently trading down 9.8% at $3.32.

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.50.

A number of equities research analysts have weighed in on OBIO shares. Chardan Capital reiterated a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, August 13th. HC Wainwright decreased their price objective on Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, September 4th. BTIG Research restated a "neutral" rating on shares of Orchestra BioMed in a report on Wednesday, August 20th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Orchestra BioMed in a report on Wednesday, October 8th.

Insider Transactions at Orchestra BioMed

In related news, insider David P. Hochman purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the acquisition, the insider owned 349,331 shares of the company's stock, valued at $960,660.25. This represents a 6.07% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 37,760 shares of company stock worth $100,384 in the last ninety days. Corporate insiders own 8.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Catalyst Funds Management Pty Ltd purchased a new position in Orchestra BioMed in the second quarter worth $31,000. Creative Planning purchased a new position in Orchestra BioMed in the second quarter worth $40,000. XTX Topco Ltd purchased a new position in Orchestra BioMed in the second quarter worth $45,000. Jane Street Group LLC purchased a new position in Orchestra BioMed in the second quarter worth $50,000. Finally, Deutsche Bank AG boosted its position in Orchestra BioMed by 67.3% in the first quarter. Deutsche Bank AG now owns 20,219 shares of the company's stock worth $87,000 after purchasing an additional 8,134 shares during the last quarter. Hedge funds and other institutional investors own 53.20% of the company's stock.

Orchestra BioMed Trading Down 9.8%

Shares of OBIO stock opened at $3.32 on Monday. The company has a market cap of $128.28 million, a P/E ratio of -1.81 and a beta of 0.60. The stock has a 50 day simple moving average of $2.72 and a two-hundred day simple moving average of $2.85. The company has a debt-to-equity ratio of 48.76, a quick ratio of 2.09 and a current ratio of 2.10. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $6.50.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.50) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.01. The business had revenue of $0.84 million during the quarter, compared to the consensus estimate of $0.78 million. Orchestra BioMed had a negative return on equity of 289.42% and a negative net margin of 2,367.49%. Research analysts forecast that Orchestra BioMed will post -1.66 earnings per share for the current year.

About Orchestra BioMed

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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