Orchestra BioMed (NASDAQ:OBIO) Posts Earnings Results, Hits Estimates

Orchestra BioMed (NASDAQ:OBIO) released its quarterly earnings results on Monday. The company reported ($0.43) earnings per share for the quarter, meeting the consensus estimate of ($0.43), Zacks reports. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%.

Orchestra BioMed Price Performance

OBIO stock traded down $0.12 during trading on Monday, hitting $4.28. 49,555 shares of the stock traded hands, compared to its average volume of 83,894. The stock has a market cap of $162.70 million, a price-to-earnings ratio of -2.66 and a beta of 0.59. Orchestra BioMed has a 1 year low of $3.75 and a 1 year high of $8.87. The firm’s 50 day moving average is $4.90 and its two-hundred day moving average is $5.17.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. BTIG Research initiated coverage on shares of Orchestra BioMed in a report on Thursday, March 20th. They set a “buy” rating and a $12.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a research note on Monday, March 10th. Finally, Barclays started coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.40.

Institutional Trading of Orchestra BioMed

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE boosted its position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 0.06% of Orchestra BioMed worth $95,000 at the end of the most recent reporting period. Institutional investors own 53.55% of the company’s stock.

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.