Orchestra BioMed (NASDAQ:OBIO) Stock Price Up 0.2% – Still a Buy?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) shares rose 0.2% during trading on Wednesday . The company traded as high as $4.26 and last traded at $4.15. Approximately 94,240 shares changed hands during trading, a decline of 53% from the average daily volume of 200,462 shares. The stock had previously closed at $4.14.

Analyst Ratings Changes

Several research firms have recently issued reports on OBIO. TD Cowen initiated coverage on Orchestra BioMed in a research note on Wednesday, December 10th. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a report on Wednesday, October 8th. Cowen began coverage on shares of Orchestra BioMed in a report on Wednesday, December 10th. They issued a “buy” rating on the stock. Barclays lowered their price target on shares of Orchestra BioMed from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Finally, Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.60.

Orchestra BioMed Trading Up 0.2%

The company has a debt-to-equity ratio of 0.32, a current ratio of 4.73 and a quick ratio of 4.72. The firm has a market cap of $234.35 million, a price-to-earnings ratio of -2.28 and a beta of 0.63. The business’s 50-day moving average price is $4.34 and its two-hundred day moving average price is $3.39.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Monday, November 10th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.02). Orchestra BioMed had a negative return on equity of 320.09% and a negative net margin of 2,665.05%.The firm had revenue of $0.86 million during the quarter, compared to analysts’ expectations of $0.74 million. Equities analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current year.

Institutional Trading of Orchestra BioMed

A number of hedge funds have recently added to or reduced their stakes in OBIO. Knott David M Jr purchased a new stake in Orchestra BioMed in the 2nd quarter valued at about $268,000. Catalyst Funds Management Pty Ltd purchased a new stake in Orchestra BioMed in the second quarter valued at approximately $31,000. Y Intercept Hong Kong Ltd purchased a new stake in Orchestra BioMed in the second quarter valued at approximately $122,000. Nuveen LLC acquired a new position in Orchestra BioMed during the first quarter worth approximately $179,000. Finally, Marshall Wace LLP purchased a new position in Orchestra BioMed during the second quarter worth approximately $133,000. 53.20% of the stock is owned by institutional investors and hedge funds.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.