Orchestra BioMed (NASDAQ:OBIO) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Orchestra BioMed's stock received a **"sell (E+)"** rating from Weiss Ratings, while other analysts have given it ratings ranging from **Strong Buy** to **Neutral** with an average price target of **$13.50**.
• The company's stock has increased by **6.2%**, with a current share price of **$2.90**, and has shown a significant market capitalization of **$112.06 million**.
• Insider David P. Hochman purchased **20,000 shares** at **$2.75** per share, indicating a **6.07%** increase in his ownership of the company, which highlights insider confidence in the company's prospects.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report)'s stock had its "sell (e+)" rating restated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Chardan Capital reaffirmed a "buy" rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, August 13th. BTIG Research reaffirmed a "neutral" rating on shares of Orchestra BioMed in a research report on Wednesday, August 20th. Finally, HC Wainwright cut their price objective on Orchestra BioMed from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Orchestra BioMed has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Orchestra BioMed Stock Up 6.2%

NASDAQ OBIO opened at $2.90 on Wednesday. The company has a debt-to-equity ratio of 48.76, a current ratio of 2.10 and a quick ratio of 2.09. The stock has a market capitalization of $112.06 million, a PE ratio of -1.58 and a beta of 0.60. Orchestra BioMed has a 1 year low of $2.20 and a 1 year high of $6.50. The business's 50-day moving average is $2.63 and its 200 day moving average is $2.90.

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

Insider Activity

In other Orchestra BioMed news, insider David P. Hochman bought 20,000 shares of the stock in a transaction dated Monday, August 4th. The stock was purchased at an average cost 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 approximately $960,660.25. This trade represents a 6.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 37,760 shares of company stock worth $100,384 in the last ninety days. 8.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

Several large investors have recently made changes to their positions in OBIO. Bank of America Corp DE lifted its holdings in shares of Orchestra BioMed by 42.0% during 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 during the last quarter. Millennium Management LLC purchased a new position in Orchestra BioMed in the 4th quarter worth approximately $86,000. IFP Advisors Inc raised its holdings in Orchestra BioMed by 106.4% in the 1st quarter. IFP Advisors Inc now owns 161,921 shares of the company's stock worth $693,000 after acquiring an additional 83,481 shares during the last quarter. Deutsche Bank AG raised its holdings in Orchestra BioMed by 67.3% in the 1st quarter. Deutsche Bank AG now owns 20,219 shares of the company's stock worth $87,000 after acquiring an additional 8,134 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Orchestra BioMed in the 1st quarter worth approximately $179,000. 53.20% of the stock is currently owned by hedge funds and other 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.

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