Orchestra BioMed (NASDAQ:OBIO - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.03), Zacks reports. The business had revenue of $0.87 million during the quarter, compared to the consensus estimate of $0.39 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%.
Orchestra BioMed Price Performance
Orchestra BioMed stock traded down $0.03 during mid-day trading on Thursday, hitting $2.79. 78,018 shares of the company were exchanged, compared to its average volume of 162,332. The business's 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $4.61. The company has a market capitalization of $106.89 million, a P/E ratio of -1.73 and a beta of 0.67. Orchestra BioMed has a 12-month low of $2.37 and a 12-month high of $8.87.
Hedge Funds Weigh In On Orchestra BioMed
An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE grew its holdings in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) by 42.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,780 shares of the company's stock after acquiring an additional 7,036 shares during the period. Bank of America Corp DE owned about 0.06% of Orchestra BioMed worth $95,000 as of its most recent SEC filing. 53.55% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on OBIO shares. B. Riley upgraded Orchestra BioMed to a "strong-buy" rating in a research note on Thursday, April 3rd. Barclays lowered their target price on Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, May 5th. BTIG Research started coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They issued a "buy" rating and a $12.00 target price for the company. HC Wainwright reiterated a "buy" rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Finally, Chardan Capital reissued a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $14.20.
Get Our Latest Stock Analysis on OBIO
About Orchestra BioMed
(
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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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