Orchestra BioMed’s (OBIO) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $14.00 price target on the stock. HC Wainwright also issued estimates for Orchestra BioMed’s Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.72) EPS.

OBIO has been the topic of several other reports. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Wednesday. B. Riley started coverage on Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 target price for the company.

Orchestra BioMed Trading Down 6.0 %

OBIO stock traded down $0.37 during mid-day trading on Friday, hitting $5.84. The stock had a trading volume of 29,929 shares, compared to its average volume of 76,187. The firm has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $6.24. Orchestra BioMed has a 52 week low of $4.22 and a 52 week high of $11.69. The firm has a market capitalization of $222.00 million, a P/E ratio of -3.63 and a beta of 0.42.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% 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. As a group, equities analysts expect that Orchestra BioMed will post -1.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Darren Sherman sold 6,804 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now directly owns 772,691 shares in the company, valued at $4,234,346.68. This represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 24,260 shares of company stock valued at $138,573. 6.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after purchasing an additional 3,245 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Orchestra BioMed by 192.7% in the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Orchestra BioMed by 115.7% during the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after buying an additional 37,906 shares during the last quarter. SG Americas Securities LLC bought a new position in Orchestra BioMed in the 3rd quarter worth about $52,000. Finally, Catalytic Wealth RIA LLC purchased a new stake in Orchestra BioMed during the 1st quarter valued at about $117,000. 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.