Orchestra BioMed (NASDAQ:OBIO) Releases Earnings Results, Beats Expectations By $0.01 EPS

Orchestra BioMed (NASDAQ:OBIO) issued its earnings results on Monday. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01, Zacks reports. Orchestra BioMed had a negative return on equity of 127.86% and a negative net margin of 184.60%.The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO traded down $0.08 during trading on Wednesday, hitting $4.32. 14,989 shares of the stock were exchanged, compared to its average volume of 251,753. Orchestra BioMed has a 1-year low of $2.20 and a 1-year high of $5.42. The company has a market capitalization of $258.93 million, a price-to-earnings ratio of -5.09 and a beta of 0.50. The company’s fifty day simple moving average is $3.99 and its 200-day simple moving average is $4.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 7.01 and a current ratio of 7.03.

Insider Buying and Selling

In other Orchestra BioMed news, Director Jason Aryeh bought 8,971 shares of Orchestra BioMed stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $3.90 per share, with a total value of $34,986.90. Following the acquisition, the director directly owned 117,453 shares of the company’s stock, valued at $458,066.70. The trade was a 8.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric S. Fain acquired 20,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was purchased at an average price of $4.13 per share, for a total transaction of $82,600.00. Following the completion of the transaction, the director directly owned 91,709 shares in the company, valued at approximately $378,758.17. The trade was a 27.89% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 39,636 shares of company stock worth $158,081 in the last quarter. 7.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. Creative Planning acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at approximately $40,000. XTX Topco Ltd bought a new position in Orchestra BioMed during the 2nd quarter worth approximately $45,000. Jane Street Group LLC acquired a new position in Orchestra BioMed during the second quarter valued at approximately $50,000. Virtu Financial LLC acquired a new position in Orchestra BioMed during the fourth quarter valued at approximately $57,000. Finally, Bank of America Corp DE increased its stake in Orchestra BioMed by 35.7% in the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after purchasing an additional 5,678 shares in the last quarter. 53.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OBIO has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up from $9.00) on shares of Orchestra BioMed in a research note on Tuesday. Wall Street Zen downgraded Orchestra BioMed from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Thursday, May 14th. Finally, Barclays lifted their price target on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

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.