Orchestra BioMed (NASDAQ:OBIO) Earns "Sell (E+)" Rating from Weiss Ratings

Key Points

• Orchestra BioMed's stock has been given a "Sell (E+)" rating by Weiss Ratings, while other analysts have issued a mix of ratings including "Buy" and "Neutral".
• The company's share price recently opened at $3.96 and has seen a 12-month low of $2.20 and a high of $6.50.
• Insider David P. Hochman purchased 20,000 shares at an average price of $2.75, indicating confidence in the company's future.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a report issued on Saturday,Weiss Ratings reports.

A number of other equities analysts have also weighed in on OBIO. Chardan Capital reaffirmed a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, August 13th. BTIG Research reaffirmed a "neutral" rating on shares of Orchestra BioMed in a research note on Wednesday, August 20th. Finally, HC Wainwright reduced their target price on shares of Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.50.

Orchestra BioMed Price Performance

Shares of OBIO stock opened at $3.96 on Friday. The firm has a market capitalization of $153.01 million, a price-to-earnings ratio of -2.16 and a beta of 0.60. The company has a quick ratio of 2.09, a current ratio of 2.10 and a debt-to-equity ratio of 48.76. Orchestra BioMed has a 12-month low of $2.20 and a 12-month high of $6.50. The firm has a fifty day moving average of $2.84 and a 200-day moving average of $2.88.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced 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 firm had revenue of $0.84 million during the quarter, compared to analyst estimates of $0.78 million. Orchestra BioMed had a negative net margin of 2,367.49% and a negative return on equity of 289.42%. On average, equities research analysts forecast that Orchestra BioMed will post -1.66 earnings per share for the current year.

Insider Buying and Selling

In other Orchestra BioMed news, insider David P. Hochman purchased 20,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $2.75 per share, with a total value of $55,000.00. Following the transaction, the insider directly owned 349,331 shares of the company's stock, valued at $960,660.25. This represents a 6.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have bought 37,760 shares of company stock worth $100,384. Insiders own 8.10% of the company's stock.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in shares of Orchestra BioMed by 106.4% during the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after purchasing an additional 83,481 shares during the last quarter. Knott David M Jr acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth about $268,000. Marshall Wace LLP acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth about $133,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth about $122,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth about $118,000. 53.20% of the stock is owned by institutional investors.

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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