Orchestra BioMed (NASDAQ:OBIO) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Orchestra BioMed (NASDAQ:OBIO) from a hold rating to a sell rating in a report issued on Saturday.

OBIO has been the topic of a number of other research reports. Weiss Ratings lowered Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, April 21st. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. Barclays raised their price objective on Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Orchestra BioMed in a report on Thursday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Orchestra BioMed currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Orchestra BioMed Trading Down 9.5%

Shares of OBIO stock opened at $3.72 on Friday. The stock’s fifty day moving average is $4.29 and its two-hundred day moving average is $4.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 6.43 and a current ratio of 7.03. The firm has a market capitalization of $222.75 million, a P/E ratio of -3.84 and a beta of 0.52. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $5.42.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.07. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million. Orchestra BioMed had a negative return on equity of 157.46% and a negative net margin of 166.96%. Research analysts expect that Orchestra BioMed will post -1.62 earnings per share for the current fiscal year.

Insider Activity at Orchestra BioMed

In related news, insider David P. Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the acquisition, the insider directly owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Knott David M Jr raised its holdings in shares of Orchestra BioMed by 1.5% during the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after acquiring an additional 3,651 shares during the period. Citadel Advisors LLC raised its holdings in shares of Orchestra BioMed by 9.2% during the 3rd quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock worth $134,000 after acquiring an additional 4,561 shares during the period. Bank of America Corp DE raised its holdings in shares of Orchestra BioMed by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after acquiring an additional 5,678 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Orchestra BioMed during the 4th quarter worth $38,000. Finally, Virtu Financial LLC purchased a new position in shares of Orchestra BioMed during the 4th quarter worth $57,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

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.