What is Chardan Capital's Forecast for OBIO FY2024 Earnings?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO - Free Report) - Analysts at Chardan Capital decreased their FY2024 EPS estimates for Orchestra BioMed in a research note issued to investors on Wednesday, November 13th. Chardan Capital analyst K. Nakae now anticipates that the company will earn ($1.67) per share for the year, down from their previous forecast of ($1.60). Chardan Capital currently has a "Buy" rating and a $20.00 target price on the stock. The consensus estimate for Orchestra BioMed's current full-year earnings is ($1.67) per share. Chardan Capital also issued estimates for Orchestra BioMed's FY2025 earnings at ($1.99) EPS.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%.

Other analysts also recently issued reports about the stock. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research report on Friday. B. Riley began coverage on shares of Orchestra BioMed in a research report on Thursday, July 25th. They issued a "buy" rating and a $15.00 target price on the stock.

Orchestra BioMed Trading Down 0.7 %

NASDAQ:OBIO traded down $0.04 during mid-day trading on Monday, hitting $5.80. The stock had a trading volume of 9,996 shares, compared to its average volume of 75,889. The stock has a market capitalization of $220.46 million, a price-to-earnings ratio of -3.63 and a beta of 0.42. The company has a 50 day simple moving average of $5.42 and a 200-day simple moving average of $6.27. Orchestra BioMed has a 52 week low of $4.22 and a 52 week high of $11.69.

Institutional Trading of Orchestra BioMed

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Orchestra BioMed during the third quarter worth approximately $52,000. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the 3rd quarter valued at $69,000. Catalytic Wealth RIA LLC acquired a new position in Orchestra BioMed during the 1st quarter worth about $117,000. Barclays PLC lifted its position in 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 purchasing an additional 23,448 shares during the period. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $163,000. 53.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Orchestra BioMed

In related news, insider Darren Sherman sold 6,837 shares of the firm's stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 directly owns 793,275 shares in the company, valued at approximately $4,838,977.50. This trade represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 24,260 shares of company stock valued at $138,573 over the last ninety days. Corporate insiders own 6.70% 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.