Orchestra BioMed (NASDAQ:OBIO) Stock Breaks Above 50 Day Moving Average – What’s Next?

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $5.79 and traded as high as $6.34. Orchestra BioMed shares last traded at $6.01, with a volume of 452,903 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OBIO shares. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. Chardan Capital restated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a report on Friday, October 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Finally, B. Riley Financial lifted their price objective on shares of Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.17.

Orchestra BioMed Stock Performance

The firm’s fifty day moving average price is $5.79 and its 200 day moving average price is $4.60. The firm has a market cap of $369.33 million, a P/E ratio of -8.01 and a beta of 0.56. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.13 million. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 149.76%. Sell-side analysts expect that Orchestra BioMed Holdings, Inc. will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $5.74, for a total transaction of $86,100.00. Following the completion of the sale, the insider owned 1,104,402 shares in the company, valued at $6,339,267.48. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman bought 10,000 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were bought at an average cost of $4.79 per share, for a total transaction of $47,900.00. Following the transaction, the insider directly owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This represents a 0.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC grew its stake in Orchestra BioMed by 8.7% in the third quarter. HighTower Advisors LLC now owns 38,462 shares of the company’s stock valued at $239,000 after purchasing an additional 3,087 shares during the last quarter. Daytona Street Capital LLC lifted its position in shares of Orchestra BioMed by 27.7% during the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock valued at $744,000 after buying an additional 26,750 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Orchestra BioMed during the second quarter valued at about $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $2,771,000. Finally, Bank of America Corp DE bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $103,000. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

Orchestra BioMed Company Profile

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.