Orchestra BioMed (NASDAQ:OBIO) Issues Earnings Results, Misses Expectations By $0.03 EPS

Orchestra BioMed (NASDAQ:OBIO) released its quarterly earnings data on Monday. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03), Zacks reports. Orchestra BioMed had a negative net margin of 166.96% and a negative return on equity of 157.46%.

Orchestra BioMed Price Performance

OBIO stock traded up $0.22 during mid-day trading on Monday, reaching $4.46. 154,500 shares of the company traded hands, compared to its average volume of 252,676. The company has a fifty day moving average price of $3.97 and a 200-day moving average price of $4.10. Orchestra BioMed has a 52-week low of $2.20 and a 52-week high of $5.42. The company has a market capitalization of $267.06 million, a P/E ratio of -4.60 and a beta of 0.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.03 and a quick ratio of 7.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on OBIO shares. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Orchestra BioMed in a research note on Thursday, May 14th. B. Riley Financial dropped their price target on shares of Orchestra BioMed from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Orchestra BioMed in a report on Friday, July 17th. Barclays lifted their price objective on shares of Orchestra BioMed from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen cut shares of Orchestra BioMed from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Insider Transactions at Orchestra BioMed

In other news, insider Darren Sherman sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $4.09, for a total value of $61,350.00. Following the completion of the transaction, the insider directly owned 1,154,327 shares in the company, valued at approximately $4,721,197.43. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Aryeh acquired 8,971 shares of Orchestra BioMed stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average cost of $3.90 per share, with a total value of $34,986.90. Following the purchase, the director owned 117,453 shares of the company’s stock, valued at $458,066.70. This represents a 8.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 39,636 shares of company stock valued at $158,081. 7.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OBIO. Citadel Advisors LLC raised its stake in Orchestra BioMed by 9.2% in the third quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock valued at $134,000 after purchasing an additional 4,561 shares in the last quarter. Bank of America Corp DE grew its stake in Orchestra BioMed by 35.7% in the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock worth $58,000 after buying an additional 5,678 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Orchestra BioMed in the 4th quarter worth $57,000. Creative Planning bought a new position in shares of Orchestra BioMed in the 2nd quarter worth $40,000. Finally, XTX Topco Ltd raised its position in shares of Orchestra BioMed by 44.6% during the 4th quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock valued at $209,000 after buying an additional 15,540 shares in the last quarter. 53.20% of the stock is owned by institutional investors.

Orchestra BioMed Company Profile

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.