Orchestra BioMed (NASDAQ:OBIO) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Orchestra BioMed (NASDAQ:OBIO) announced its quarterly earnings data on Monday. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.03), Zacks reports. The firm had revenue of $0.87 million during the quarter, compared to the consensus estimate of $0.39 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%.

Orchestra BioMed Price Performance

Shares of OBIO traded up $0.15 during mid-day trading on Tuesday, reaching $2.80. The company’s stock had a trading volume of 4,249 shares, compared to its average volume of 160,291. The stock has a market cap of $107.08 million, a PE ratio of -1.72 and a beta of 0.67. Orchestra BioMed has a 12-month low of $2.37 and a 12-month high of $8.87. The company’s 50 day moving average is $3.32 and its 200 day moving average is $4.63.

Wall Street Analyst Weigh In

Several analysts recently commented on OBIO shares. Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Tuesday, April 22nd. BTIG Research assumed coverage on Orchestra BioMed in a research note on Thursday, March 20th. They set a “buy” rating and a $12.00 price objective on the stock. HC Wainwright restated a “buy” rating on shares of Orchestra BioMed in a research report on Wednesday, April 23rd. B. Riley upgraded Orchestra BioMed to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, Barclays cut their price objective on Orchestra BioMed from $16.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Orchestra BioMed has an average rating of “Buy” and an average price target of $14.20.

Institutional Trading of Orchestra BioMed

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE boosted its stake in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,780 shares of the company’s stock after acquiring an additional 7,036 shares during the quarter. 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. 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.