Orchestra BioMed (NASDAQ:OBIO) Issues Earnings Results

Orchestra BioMed (NASDAQ:OBIO) posted its earnings results on Monday. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01, Zacks reports. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.14 million. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%.

Orchestra BioMed Stock Up 5.2%

OBIO stock opened at $4.46 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $5.42. The stock’s 50 day simple moving average is $3.98 and its 200 day simple moving average is $4.10. The company has a market cap of $267.06 million, a P/E ratio of -4.60 and a beta of 0.50.

Analyst Upgrades and Downgrades

OBIO has been the topic of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Orchestra BioMed in a research note on Friday, July 17th. Barclays lifted their target price on Orchestra BioMed from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Orchestra BioMed in a research note on Thursday, May 14th. Wall Street Zen cut Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, B. Riley Financial lowered their price objective on Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, Director Eric S. Fain purchased 20,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the purchase, the director owned 91,709 shares of the company’s stock, valued at $378,758.17. This trade represents a 27.89% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total transaction of $61,350.00. Following the transaction, the insider owned 1,154,327 shares in the company, valued at approximately $4,721,197.43. The trade was a 1.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders acquired 39,636 shares of company stock valued at $158,081. 7.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC boosted its stake in Orchestra BioMed by 9.2% during the 3rd quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock valued at $134,000 after purchasing an additional 4,561 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after purchasing an additional 5,678 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Orchestra BioMed in the fourth quarter valued at approximately $57,000. Creative Planning bought a new position in shares of Orchestra BioMed in the second quarter valued at approximately $40,000. Finally, XTX Topco Ltd boosted its position in shares of Orchestra BioMed by 44.6% during the fourth quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock valued at $209,000 after buying an additional 15,540 shares during the last quarter. 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.