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

HC Wainwright reissued their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO - Free Report) in a research report report published on Friday morning,Benzinga reports. The firm currently has a $14.00 target price on the stock.

OBIO has been the topic of several other reports. B. Riley assumed coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They set a "buy" rating and a $15.00 target price on the stock. Chardan Capital reissued a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock traded down $0.37 on Friday, reaching $5.84. 29,929 shares of the stock were exchanged, compared to its average volume of 76,187. Orchestra BioMed has a one year low of $4.22 and a one year high of $11.69. The firm's 50 day moving average is $5.41 and its 200-day moving average is $6.23. The firm has a market cap of $222.00 million, a PE ratio of -3.80 and a beta of 0.42.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.03. The business had revenue of $0.99 million during the quarter, compared to analysts' expectations of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. On average, equities research analysts expect that Orchestra BioMed will post -1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Orchestra BioMed news, insider Darren Sherman sold 6,837 shares of Orchestra BioMed 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 $4,838,977.50. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 24,260 shares of company stock worth $138,573. Insiders own 6.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC purchased a new stake in Orchestra BioMed during the third quarter valued at $52,000. ABLE Financial Group LLC bought a new stake in shares of Orchestra BioMed during the 3rd quarter valued at $69,000. Catalytic Wealth RIA LLC purchased a new stake in shares of Orchestra BioMed in the 1st quarter worth $117,000. SkyView Investment Advisors LLC purchased a new position in Orchestra BioMed during the second quarter valued at $163,000. Finally, Rhumbline Advisers increased its position in Orchestra BioMed by 192.7% in the second quarter. Rhumbline Advisers now owns 26,439 shares of the company's stock worth $215,000 after buying an additional 17,405 shares in the last quarter. Institutional investors own 53.55% 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.