Orchestra BioMed (NASDAQ:OBIO) Issues Earnings Results

Orchestra BioMed (NASDAQ:OBIO) announced its quarterly earnings results on Monday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.04), Zacks reports. Orchestra BioMed had a negative return on equity of 70.18% and a negative net margin of 2,330.46%. The company had revenue of $0.78 million for the quarter, compared to analyst estimates of $1.04 million.

Orchestra BioMed Stock Down 2.5 %

Shares of Orchestra BioMed stock opened at $5.96 on Wednesday. The stock has a market cap of $213.30 million, a price-to-earnings ratio of -4.03 and a beta of 0.45. Orchestra BioMed has a twelve month low of $4.22 and a twelve month high of $11.69. The company’s fifty day moving average is $7.45 and its 200 day moving average is $6.31.

Analyst Ratings Changes

OBIO has been the topic of a number of research reports. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, June 12th. B. Riley initiated coverage on Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 price objective for the company.

Insiders Place Their Bets

In related news, insider William Reed Little purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $7.00 per share, with a total value of $28,000.00. Following the completion of the purchase, the insider now owns 307,859 shares in the company, valued at approximately $2,155,013. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.70% of the company’s stock.

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.