What is Chardan Capital’s Estimate for OBIO FY2024 Earnings?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) – Investment analysts at Chardan Capital decreased their FY2024 earnings estimates for Orchestra BioMed in a research note issued to investors on Wednesday, November 13th. Chardan Capital analyst K. Nakae now expects that the company will post earnings per share of ($1.67) for the year, down from their prior estimate of ($1.60). Chardan Capital has a “Buy” rating and a $20.00 price target 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.

Other research analysts have also issued reports about the company. B. Riley assumed coverage on Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of Orchestra BioMed in a report on Friday, November 15th.

Orchestra BioMed Stock Down 11.3 %

Shares of NASDAQ:OBIO opened at $5.17 on Monday. The company’s fifty day moving average is $5.41 and its two-hundred day moving average is $6.27. The company has a market cap of $196.53 million, a P/E ratio of -3.21 and a beta of 0.42. Orchestra BioMed has a 12-month low of $4.22 and a 12-month high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.41) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently modified their holdings of OBIO. SG Americas Securities LLC bought a new position in Orchestra BioMed during the third quarter valued at about $52,000. ABLE Financial Group LLC bought a new position in Orchestra BioMed in the 3rd quarter worth $69,000. Catalytic Wealth RIA LLC acquired a new position in Orchestra BioMed during the 1st quarter worth $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 worth $163,000 after acquiring an additional 23,448 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new stake in Orchestra BioMed during the second quarter valued at about $163,000. Institutional investors and hedge funds own 53.55% of the company’s stock.

Insider Activity at Orchestra BioMed

In other Orchestra BioMed news, insider Darren Sherman sold 6,837 shares of Orchestra BioMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.10, for a total value of $41,705.70. Following the completion of the sale, the insider now directly owns 793,275 shares in the company, valued at $4,838,977.50. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 24,260 shares of company stock valued at $138,573. Insiders own 6.70% of the company’s stock.

About Orchestra BioMed

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.