Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Stock Has Consensus Target Price of $13.17

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.17.

Several research firms have issued reports on OBIO. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. B. Riley Financial raised their price target on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th.

Insider Buying and Selling

In other Orchestra BioMed news, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $6.36, for a total transaction of $95,400.00. Following the sale, the insider directly owned 1,119,402 shares of the company’s stock, valued at approximately $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman acquired 10,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was purchased at an average price of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 7.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Daytona Street Capital LLC grew its position in shares of Orchestra BioMed by 27.7% during the 3rd quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock worth $744,000 after purchasing an additional 26,750 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Orchestra BioMed by 93.6% during the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after acquiring an additional 17,100 shares during the last quarter. AXQ Capital LP bought a new position in Orchestra BioMed during the second quarter valued at $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Orchestra BioMed during the 2nd quarter valued at about $2,771,000. Finally, Bank of America Corp DE bought a new stake in shares of Orchestra BioMed in the 2nd quarter worth approximately $103,000. 53.20% of the stock is owned by institutional investors.

Orchestra BioMed Stock Performance

OBIO opened at $5.91 on Friday. Orchestra BioMed has a fifty-two week low of $3.46 and a fifty-two week high of $6.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. The company has a market cap of $355.19 million, a price-to-earnings ratio of -6.95 and a beta of 0.56. The firm has a 50 day simple moving average of $5.70 and a 200 day simple moving average of $4.54.

Orchestra BioMed (NASDAQ:OBIO) last released its earnings results on Monday, August 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.01. The business had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.14 million. Orchestra BioMed had a negative return on equity of 149.61% and a negative net margin of 184.60%. On average, sell-side analysts anticipate that Orchestra BioMed will post -1.53 earnings per share for the current year.

Orchestra BioMed Company Profile

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.