Orchestra BioMed (NASDAQ:OBIO) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $5.79 and traded as high as $6.34. Orchestra BioMed shares last traded at $6.01, with a volume of 452,903 shares changing hands.

Wall Street Analyst Weigh In

OBIO has been the subject of several analyst reports. HC Wainwright upped their target price on Orchestra BioMed from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday. Piper Sandler reiterated an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Chardan Capital reissued a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Friday, October 23rd. BTIG Research lifted their price target on Orchestra BioMed from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Finally, Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.29.

Orchestra BioMed Price Performance

The company has a current ratio of 7.25, a quick ratio of 8.24 and a debt-to-equity ratio of 4.58. The business has a fifty day moving average price of $5.86 and a 200 day moving average price of $4.63.

Orchestra BioMed (NASDAQ:OBIO) last issued its earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.13 million. Orchestra BioMed had a negative return on equity of 186.93% and a negative net margin of 182.50%. On average, analysts forecast that Orchestra BioMed Holdings, Inc. will post -1.53 earnings per share for the current fiscal year.

Insider Transactions at Orchestra BioMed

In other Orchestra BioMed news, Director Eric Fain bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average price of $5.00 per share, with a total value of $100,000.00. Following the transaction, the director owned 119,630 shares in the company, valued at $598,150. This trade represents a 20.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David Pacitti bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $5.00 per share, with a total value of $100,000.00. Following the transaction, the director owned 74,750 shares in the company, valued at approximately $373,750. This represents a 36.53% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently bought and sold shares of OBIO. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed during the 1st quarter valued at $81,000. Canada Pension Plan Investment Board acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $91,000. Bank of America Corp DE acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $103,000. AXQ Capital LP acquired a new stake in Orchestra BioMed in the 2nd quarter valued at $110,000. Finally, Algert Global LLC raised its position in Orchestra BioMed by 94.4% in the second quarter. Algert Global LLC now owns 28,486 shares of the company’s stock valued at $123,000 after purchasing an additional 13,830 shares during the period. 53.20% of the stock is currently owned by hedge funds and other institutional investors.

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.