Orchestra BioMed (NASDAQ:OBIO) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Orchestra BioMed reported a quarterly loss of $0.38 per share, missing the consensus estimate of a $0.35 loss by $0.03. The company also posted negative return on equity and a negative net margin.
• Shares rose 5.2% to $4.46 following the results, while insiders purchased 39,636 shares worth approximately $158,081 over the past 90 days.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $13.60, despite recent sell ratings and target revisions.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03), Zacks reports. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%.

Orchestra BioMed Trading Up 5.2%

OBIO traded up $0.22 during midday trading on Monday, reaching $4.46. 154,400 shares of the company were exchanged, compared to its average volume of 252,622. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03. Orchestra BioMed has a one year low of $2.20 and a one year high of $5.42. The stock has a market capitalization of $267.06 million, a P/E ratio of -4.60 and a beta of 0.50. The stock's 50-day simple moving average is $3.97 and its 200 day simple moving average is $4.10.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, Director Jason Aryeh purchased 8,971 shares of the company's stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $3.90 per share, with a total value of $34,986.90. Following the completion of the transaction, the director directly owned 117,453 shares in the company, valued at $458,066.70. This trade represents a 8.27% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric S. Fain acquired 20,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the acquisition, the director directly owned 91,709 shares in the company, valued at $378,758.17. This represents a 27.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 39,636 shares of company stock worth $158,081 in the last ninety days. Company insiders own 7.50% of the company's stock.

Institutional Trading of Orchestra BioMed

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in shares of Orchestra BioMed by 42.0% in the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock valued at $95,000 after purchasing an additional 7,036 shares in the last quarter. Creative Planning acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at approximately $40,000. XTX Topco Ltd bought a new position in shares of Orchestra BioMed in the second quarter valued at $45,000. Marshall Wace LLP bought a new position in shares of Orchestra BioMed in the second quarter valued at $133,000. Finally, NewEdge Advisors LLC acquired a new position in Orchestra BioMed during the second quarter worth $118,000. 53.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OBIO has been the subject of a number of research reports. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Orchestra BioMed in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Orchestra BioMed from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Orchestra BioMed in a research report on Friday, July 17th. B. Riley Financial dropped their price target on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Finally, Barclays increased their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $13.60.

About Orchestra BioMed

Orchestra BioMed, Inc NASDAQ: OBIO is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company's research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed's pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.

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