Orchestra BioMed (NASDAQ:OBIO) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a report published on Friday morning,Benzinga reports. They currently have a $14.00 target price 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.

A number of other brokerages also recently commented on OBIO. B. Riley assumed coverage on Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, November 13th.

Orchestra BioMed Price Performance

OBIO opened at $5.83 on Friday. The company has a market capitalization of $221.60 million, a PE ratio of -3.62 and a beta of 0.42. Orchestra BioMed has a 1 year low of $4.22 and a 1 year high of $11.69. The business has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $6.27.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.03. The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. Equities analysts anticipate that Orchestra BioMed will post -1.67 earnings per share for the current fiscal year.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,819 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $5.65, for a total value of $38,527.35. Following the completion of the transaction, the insider now directly owns 779,495 shares in the company, valued at $4,404,146.75. This represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 24,260 shares of company stock worth $138,573 over the last quarter. Company insiders own 6.70% of the company’s stock.

Institutional Trading of Orchestra BioMed

Institutional investors have recently bought and sold shares of the stock. RTW Investments LP increased its stake in shares of Orchestra BioMed by 46.0% during the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after buying an additional 2,585,519 shares during the period. State Street Corp raised its holdings in shares of Orchestra BioMed by 12.4% during the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after purchasing an additional 37,906 shares in the last quarter. Barclays PLC grew its position in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after acquiring an additional 23,448 shares during the period. Finally, Catalytic Wealth RIA LLC acquired a new stake in Orchestra BioMed in the first quarter valued at approximately $117,000. 53.55% of the stock is currently owned by institutional investors.

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.