Orchestra BioMed (NASDAQ:OBIO) Shares Down 6.1% - Time to Sell?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Get Free Report) shares traded down 6.1% during trading on Monday . The stock traded as low as $2.59 and last traded at $2.61. 271,930 shares traded hands during trading, an increase of 83% from the average session volume of 148,488 shares. The stock had previously closed at $2.78.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OBIO. Barclays began coverage on Orchestra BioMed in a report on Thursday, January 2nd. They issued an "overweight" rating and a $16.00 target price on the stock. BTIG Research began coverage on Orchestra BioMed in a report on Thursday, March 20th. They issued a "buy" rating and a $12.00 target price on the stock. B. Riley raised Orchestra BioMed to a "strong-buy" rating in a report on Thursday, April 3rd. HC Wainwright reissued a "buy" rating on shares of Orchestra BioMed in a report on Wednesday, April 23rd. Finally, Chardan Capital reissued a "buy" rating and issued a $20.00 target price on shares of Orchestra BioMed in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.00.

Orchestra BioMed Price Performance

The stock has a market capitalization of $100.00 million, a PE ratio of -1.62 and a beta of 0.62. The stock has a 50 day moving average of $3.71 and a two-hundred day moving average of $4.83.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its earnings results on Monday, March 31st. The company reported ($0.43) EPS for the quarter, hitting analysts' consensus estimates of ($0.43). The company had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.79 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. As a group, research analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Orchestra BioMed by 26.0% in the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock worth $51,000 after acquiring an additional 2,642 shares during the last quarter. Wells Fargo & Company MN increased its stake in Orchestra BioMed by 43.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after purchasing an additional 3,992 shares during the last quarter. Millennium Management LLC acquired a new position in Orchestra BioMed in the fourth quarter valued at $86,000. Bank of America Corp DE increased its stake in Orchestra BioMed by 42.0% in the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock valued at $95,000 after purchasing an additional 7,036 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Orchestra BioMed by 11.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock valued at $148,000 after purchasing an additional 3,704 shares during the last quarter. 53.55% of the stock is currently owned by hedge funds and other 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.

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