Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report)'s share price rose 1.7% on Wednesday . The stock traded as high as $3.01 and last traded at $2.98. Approximately 118,256 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 188,248 shares. The stock had previously closed at $2.93.
Wall Street Analyst Weigh In
Several research firms have commented on OBIO. Chardan Capital reissued a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Tuesday, May 13th. B. Riley upgraded shares of Orchestra BioMed to a "strong-buy" rating in a research note on Thursday, April 3rd. HC Wainwright restated a "buy" rating on shares of Orchestra BioMed in a research note on Wednesday, April 23rd. Barclays decreased their target price on shares of Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, BTIG Research started coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They set a "buy" rating and a $12.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $14.20.
View Our Latest Analysis on Orchestra BioMed
Orchestra BioMed Price Performance
The company has a current ratio of 3.35, a quick ratio of 3.34 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $114.94 million, a P/E ratio of -1.69 and a beta of 0.61. The firm has a fifty day moving average of $2.94 and a 200 day moving average of $3.90.
Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.46) by ($0.03). Orchestra BioMed had a negative net margin of 2,297.85% and a negative return on equity of 189.26%. The company had revenue of $0.87 million for the quarter, compared to the consensus estimate of $0.39 million. On average, equities research analysts anticipate that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.
Institutional Trading of Orchestra BioMed
Large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in 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. Millennium Management LLC bought a new position in shares of Orchestra BioMed in the 4th quarter worth approximately $86,000. Deutsche Bank AG boosted its holdings in shares of Orchestra BioMed by 67.3% in the first quarter. Deutsche Bank AG now owns 20,219 shares of the company's stock worth $87,000 after buying an additional 8,134 shares during the last quarter. Bank of America Corp DE grew its position in 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 buying an additional 7,036 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in 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 last quarter. Institutional investors own 53.55% of the company's stock.
About Orchestra BioMed
(
Get Free Report)
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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