Orchestra BioMed (NASDAQ:OBIO) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report report published on Friday,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright also issued estimates for Orchestra BioMed’s Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.72) EPS.

Other analysts have also issued reports about the stock. B. Riley began coverage on shares of Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday.

Orchestra BioMed Stock Performance

Shares of OBIO stock traded down $0.37 on Friday, reaching $5.84. The stock had a trading volume of 29,929 shares, compared to its average volume of 76,187. Orchestra BioMed has a 1 year low of $4.22 and a 1 year high of $11.69. The stock has a market cap of $222.00 million, a P/E ratio of -3.63 and a beta of 0.42. The company has a 50 day simple moving average of $5.42 and a 200 day simple moving average of $6.24.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million. On average, equities research analysts anticipate that Orchestra BioMed will post -1.67 earnings per share for the current fiscal year.

Insider Activity at Orchestra BioMed

In related news, insider Darren Sherman sold 6,819 shares of Orchestra BioMed stock in a transaction on Friday, September 6th. The shares were sold at an average price of $5.65, for a total transaction of $38,527.35. Following the transaction, the insider now owns 779,495 shares in the company, valued at approximately $4,404,146.75. The trade was a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 24,260 shares of company stock worth $138,573. 6.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Orchestra BioMed during the 3rd quarter valued at approximately $52,000. ABLE Financial Group LLC bought a new stake in shares of Orchestra BioMed during the third quarter valued at approximately $69,000. Catalytic Wealth RIA LLC purchased a new position in shares of Orchestra BioMed in the first quarter worth $117,000. Barclays PLC boosted its position in shares of Orchestra BioMed by 281.3% during the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares during the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in Orchestra BioMed during the second quarter valued at $163,000. 53.55% 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.