Orchestra BioMed (NASDAQ:OBIO) Posts Earnings Results, Beats Expectations By $0.07 EPS

Orchestra BioMed (NASDAQ:OBIO) released its quarterly earnings results on Tuesday. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07, FiscalAI reports. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 167.93%. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.92 million.

Orchestra BioMed Trading Up 1.7%

Shares of Orchestra BioMed stock traded up $0.07 during trading on Thursday, hitting $4.13. The company’s stock had a trading volume of 25,530 shares, compared to its average volume of 201,416. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.45 and a quick ratio of 6.43. Orchestra BioMed has a 52 week low of $2.20 and a 52 week high of $5.42. The stock has a market cap of $247.30 million, a price-to-earnings ratio of -4.26 and a beta of 0.52. The stock has a 50-day moving average price of $4.31 and a two-hundred day moving average price of $4.27.

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, insider David P. Hochman acquired 10,000 shares of Orchestra BioMed stock in a transaction that occurred on Friday, March 13th. The shares were bought at an average price of $4.29 per share, with a total value of $42,900.00. Following the completion of the purchase, the insider directly owned 1,086,467 shares in the company, valued at $4,660,943.43. This trade represents a 0.93% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 7.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. Bank of America Corp DE boosted its position in Orchestra BioMed by 44.2% during the third quarter. Bank of America Corp DE now owns 31,119 shares of the company’s stock valued at $77,000 after acquiring an additional 9,542 shares during the last quarter. Cresset Asset Management LLC bought a new stake in Orchestra BioMed during the third quarter valued at $74,000. Tower Research Capital LLC TRC boosted its position in Orchestra BioMed by 1,137.7% during the second quarter. Tower Research Capital LLC TRC now owns 27,922 shares of the company’s stock valued at $75,000 after acquiring an additional 25,666 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in Orchestra BioMed during the second quarter valued at $67,000. Finally, NewEdge Advisors LLC bought a new stake in Orchestra BioMed during the second quarter valued at $118,000. Institutional investors own 53.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on OBIO. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Thursday, March 12th. Weiss Ratings downgraded shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, April 21st. Barclays boosted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research report on Thursday. Finally, Wall Street Zen upgraded shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 14th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.