Orchestra BioMed (NASDAQ:OBIO) Given "Neutral" Rating at BTIG Research

Key Points

• Orchestra BioMed's stock received a "neutral" rating from BTIG Research, while other analysts have varied opinions, with price targets ranging from $12.00 to $20.00.
• The company's shares opened at $2.55 on Wednesday, showing a 3% decline, and they have a current market capitalization of $98.54 million.
• Insider David P. Hochman bought 20,000 shares for $55,000, increasing his ownership to approximately $960,660, representing a 6.07% increase.

BTIG Research reiterated their neutral rating on shares of Orchestra BioMed (NASDAQ:OBIO - Free Report) in a research note published on Wednesday morning, Marketbeat Ratings reports.

A number of other equities analysts also recently commented on the stock. HC Wainwright reiterated a "buy" rating on shares of Orchestra BioMed in a research note on Wednesday, April 23rd. Barclays lowered their target price on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Chardan Capital reiterated a "buy" rating and set a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Orchestra BioMed currently has a consensus rating of "Buy" and an average target price of $14.00.

Orchestra BioMed Stock Up 1.6%

Shares of NASDAQ OBIO traded up $0.04 during mid-day trading on Wednesday, hitting $2.59. The company had a trading volume of 81,620 shares, compared to its average volume of 295,645. The company has a market capitalization of $100.08 million, a PE ratio of -1.42 and a beta of 0.62. The company has a debt-to-equity ratio of 48.76, a current ratio of 2.10 and a quick ratio of 2.09. Orchestra BioMed has a 1-year low of $2.37 and a 1-year high of $7.04. The business's 50-day simple moving average is $2.91 and its 200 day simple moving average is $3.35.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.50) EPS 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 the consensus estimate 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, analysts predict that Orchestra BioMed will post -1.66 earnings per share for the current year.

Insider Buying and Selling at Orchestra BioMed

In related news, insider David P. Hochman purchased 20,000 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were purchased at an average cost of $2.75 per share, for a total transaction of $55,000.00. Following the completion of the transaction, the insider directly owned 349,331 shares in the company, valued at approximately $960,660.25. This represents a 6.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of Orchestra BioMed by 11.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock valued at $148,000 after buying an additional 3,704 shares during the period. Wells Fargo & Company MN increased its position in shares of Orchestra BioMed by 43.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock worth $53,000 after purchasing an additional 3,992 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Orchestra BioMed by 0.9% in 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. Bank of America Corp DE increased its position in shares of Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company's stock worth $58,000 after purchasing an additional 5,678 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Orchestra BioMed by 2.5% in 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 during the last quarter. 53.20% of the stock is currently owned by 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.