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

Orchestra BioMed (NASDAQ:OBIO) issued its quarterly earnings results on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.07, FiscalAI reports. The business had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%.

Orchestra BioMed Price Performance

Shares of NASDAQ OBIO traded up $0.15 on Tuesday, hitting $4.06. The company’s stock had a trading volume of 137,642 shares, compared to its average volume of 203,237. Orchestra BioMed has a 12-month low of $2.20 and a 12-month high of $5.42. The company has a market capitalization of $243.12 million, a price-to-earnings ratio of -3.59 and a beta of 0.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.45 and a quick ratio of 6.43. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.26.

Insider Activity

In other Orchestra BioMed news, insider David P. Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction 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 acquisition, the insider directly owned 1,086,467 shares of the company’s stock, valued at approximately $4,660,943.43. This trade represents a 0.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.10% of the stock is owned by company insiders.

Institutional Trading of Orchestra BioMed

Several institutional investors and hedge funds have recently modified their holdings of OBIO. Bank of America Corp DE lifted its holdings in shares of Orchestra BioMed by 42.0% in the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock valued at $95,000 after purchasing an additional 7,036 shares in the last quarter. Creative Planning purchased a new stake in shares of Orchestra BioMed in the second quarter valued at about $40,000. XTX Topco Ltd purchased a new stake in shares of Orchestra BioMed in the second quarter valued at about $45,000. Marshall Wace LLP purchased a new stake in shares of Orchestra BioMed in the second quarter valued at about $133,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Orchestra BioMed in the second quarter valued at about $118,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on OBIO shares. Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. Weiss Ratings downgraded shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen raised shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.25.

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.