Orchestra BioMed (NASDAQ:OBIO) Posts Earnings Results, Meets Estimates

Orchestra BioMed (NASDAQ:OBIO) issued its quarterly earnings data on Monday. The company reported ($0.43) EPS for the quarter, meeting the consensus estimate of ($0.43), Zacks reports. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The firm had revenue of $0.25 million during the quarter, compared to analyst estimates of $0.79 million.

Orchestra BioMed Stock Down 10.1 %

Shares of NASDAQ OBIO opened at $3.96 on Tuesday. Orchestra BioMed has a 52 week low of $3.75 and a 52 week high of $8.87. The business’s 50 day moving average price is $4.88 and its 200 day moving average price is $5.16. The firm has a market cap of $150.35 million, a P/E ratio of -2.56 and a beta of 0.59.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays began coverage on Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. BTIG Research initiated coverage on shares of Orchestra BioMed in a research report on Thursday, March 20th. They set a “buy” rating and a $12.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Monday, March 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Orchestra BioMed presently has an average rating of “Buy” and an average price target of $15.40.

Institutional Trading of Orchestra BioMed

A hedge fund recently raised its stake in Orchestra BioMed stock. Bank of America Corp DE lifted its position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,780 shares of the company’s stock after purchasing an additional 7,036 shares during the period. Bank of America Corp DE owned about 0.06% of Orchestra BioMed worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 53.55% 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.