Orchestra BioMed (NASDAQ:OBIO) Receives New Coverage from Analysts at B. Riley

B. Riley assumed coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $15.00 target price on the stock.

Separately, Chardan Capital reaffirmed a buy rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Wednesday, June 12th.

Orchestra BioMed Stock Performance

Shares of OBIO opened at $7.52 on Thursday. The stock has a 50-day moving average of $7.37 and a two-hundred day moving average of $6.44. The stock has a market cap of $269.14 million, a P/E ratio of -5.08 and a beta of 0.45. Orchestra BioMed has a one year low of $4.22 and a one year high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Orchestra BioMed had a negative return on equity of 70.18% and a negative net margin of 2,330.46%. The firm had revenue of $0.62 million during the quarter, compared to the consensus estimate of $1.28 million. Analysts predict that Orchestra BioMed will post -1.56 EPS for the current fiscal year.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, insider William Reed Little purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $28,000.00. Following the purchase, the insider now directly owns 307,859 shares in the company, valued at $2,155,013. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.70% of the company’s stock.

Institutional Trading of Orchestra BioMed

A hedge fund recently bought a new stake in Orchestra BioMed stock. Catalytic Wealth RIA LLC bought a new position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,261 shares of the company’s stock, valued at approximately $117,000. Catalytic Wealth RIA LLC owned about 0.06% of Orchestra BioMed at the end of the most recent reporting period. Hedge funds and other 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.