Orchestra BioMed (NASDAQ:OBIO) Announces Quarterly Earnings Results

Orchestra BioMed (NASDAQ:OBIO) announced its quarterly earnings data on Tuesday. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03, Zacks reports. Orchestra BioMed had a negative return on equity of 102.19% and a negative net margin of 2,179.33%. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million.

Orchestra BioMed Price Performance

Shares of OBIO traded up $0.31 during trading hours on Wednesday, hitting $5.97. The stock had a trading volume of 39,116 shares, compared to its average volume of 76,207. Orchestra BioMed has a 12 month low of $4.22 and a 12 month high of $11.69. The stock has a fifty day moving average price of $5.40 and a 200 day moving average price of $6.23. The firm has a market capitalization of $225.85 million, a PE ratio of -3.81 and a beta of 0.42.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. HC Wainwright began coverage on shares of Orchestra BioMed in a report on Thursday, August 22nd. They issued a “buy” rating and a $14.00 target price on the stock. B. Riley initiated coverage on Orchestra BioMed in a research note on Thursday, July 25th. They set a “buy” rating and a $15.00 price objective on the stock.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,837 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $6.10, for a total transaction of $41,705.70. Following the completion of the sale, the insider now owns 793,275 shares of the company’s stock, valued at approximately $4,838,977.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold 24,260 shares of company stock worth $138,573 in the last three months. Corporate insiders own 6.70% of the company’s stock.

About Orchestra BioMed

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.