Orchestra BioMed (NASDAQ:OBIO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Orchestra BioMed (NASDAQ:OBIO) from a strong sell rating to a hold rating in a report published on Saturday.

Several other research firms have also recently commented on OBIO. TD Cowen initiated coverage on shares of Orchestra BioMed in a report on Wednesday, December 10th. They set a “buy” rating on the stock. Chardan Capital reiterated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. Finally, Barclays boosted their target price on Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.80.

Orchestra BioMed Stock Performance

OBIO stock opened at $4.55 on Friday. The firm has a 50 day simple moving average of $4.19 and a 200 day simple moving average of $3.87. 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 $266.27 million, a P/E ratio of -4.03 and a beta of 0.56. The company has a debt-to-equity ratio of 0.27, a quick ratio of 6.43 and a current ratio of 6.45.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.64. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%. The firm had revenue of $30.92 million for the quarter, compared to analyst estimates of $0.93 million. Research analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Orchestra BioMed

In related news, insider David P. Hochman acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $4.29 per share, with a total value of $42,900.00. Following the purchase, the insider owned 1,086,467 shares of the company’s stock, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OBIO. AMH Equity Ltd bought a new position in shares of Orchestra BioMed in the third quarter valued at approximately $412,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Orchestra BioMed in the second quarter worth $31,000. Knott David M Jr bought a new stake in shares of Orchestra BioMed during the 2nd quarter worth $268,000. Bank of America Corp DE boosted its holdings in shares of Orchestra BioMed by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after buying an additional 5,678 shares during the period. Finally, Virtu Financial LLC acquired a new position in Orchestra BioMed in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

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.