Orchestra BioMed (NASDAQ:OBIO – Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10, FiscalAI reports. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.13 million. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%.
Orchestra BioMed Trading Up 0.5%
NASDAQ OBIO traded up $0.03 during mid-day trading on Tuesday, reaching $5.73. 461,859 shares of the stock were exchanged, compared to its average volume of 290,872. Orchestra BioMed has a 1-year low of $3.46 and a 1-year high of $6.50. The business’s fifty day simple moving average is $5.75 and its 200 day simple moving average is $4.58. The stock has a market capitalization of $344.37 million, a PE ratio of -6.74 and a beta of 0.56. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.
Insider Activity
In other Orchestra BioMed news, insider David Hochman purchased 10,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was bought at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the acquisition, the insider owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. The trade was a 0.94% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric Fain purchased 20,000 shares of Orchestra BioMed stock in a transaction on Monday, November 9th. The shares were acquired at an average cost of $5.00 per share, for a total transaction of $100,000.00. Following the purchase, the director owned 119,630 shares in the company, valued at approximately $598,150. This trade represents a 20.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 58,000 shares of company stock valued at $288,560 and sold 45,000 shares valued at $255,600. Company insiders own 7.50% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. B. Riley Financial raised their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, September 15th. Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Friday, October 23rd. Weiss Ratings raised Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Orchestra BioMed in a research report on Monday, October 5th. Finally, Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a report on Thursday, October 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.17.
Check Out Our Latest Report on OBIO
Orchestra BioMed Company Profile
Orchestra BioMed Holdings, Inc. is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization. Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.
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