Orchestra BioMed (NASDAQ:OBIO) Trading Up 1.7% - Should You Buy?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) was up 1.7% on Wednesday . The company traded as high as $3.01 and last traded at $2.98. Approximately 118,256 shares traded hands during trading, a decline of 37% from the average daily volume of 188,248 shares. The stock had previously closed at $2.93.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research assumed coverage on Orchestra BioMed in a report on Thursday, March 20th. They set a "buy" rating and a $12.00 target price for the company. B. Riley upgraded Orchestra BioMed to a "strong-buy" rating in a report on Thursday, April 3rd. HC Wainwright restated a "buy" rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Chardan Capital restated a "buy" rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Tuesday, May 13th. Finally, Barclays lowered their target price on Orchestra BioMed from $16.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $14.20.

Orchestra BioMed Stock Down 2.7%

The firm has a 50 day moving average price of $2.95 and a 200-day moving average price of $3.87. 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 firm has a market cap of $111.87 million, a PE ratio of -1.64 and a beta of 0.61.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.03). The company had revenue of $0.87 million during the quarter, compared to analysts' expectations of $0.39 million. Orchestra BioMed had a negative net margin of 2,297.85% and a negative return on equity of 189.26%. Research analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock worth $2,290,000 after acquiring an additional 5,222 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Orchestra BioMed during the 4th quarter worth about $86,000. Northern Trust Corp raised its position in shares of Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company's stock worth $947,000 after acquiring an additional 5,725 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock worth $53,000 after acquiring an additional 3,992 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in shares of Orchestra BioMed during the 4th quarter worth about $953,000. Hedge funds and other institutional investors own 53.55% of the company's stock.

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.