Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) Receives $13.80 Consensus Price Target from Analysts

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $14.25.

A number of research firms have weighed in on OBIO. Wall Street Zen raised shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 14th. Chardan Capital reissued a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a report on Thursday, March 12th. TD Cowen started coverage on Orchestra BioMed in a research report on Wednesday, December 10th. They set a “buy” rating on the stock. Finally, Barclays upped their target price on Orchestra BioMed from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, January 9th.

Orchestra BioMed Stock Performance

OBIO opened at $4.64 on Thursday. The company’s 50 day moving average is $4.18 and its 200-day moving average is $3.91. Orchestra BioMed has a 1-year low of $2.20 and a 1-year high of $5.42. The company has a current ratio of 6.45, a quick ratio of 6.43 and a debt-to-equity ratio of 0.27. The company has a market cap of $271.53 million, a P/E ratio of -4.11 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.64. The business had revenue of $30.92 million during the quarter, compared to analysts’ expectations of $0.93 million. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%. Equities research analysts predict that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Orchestra BioMed

In other news, insider David P. Hochman purchased 10,000 shares of Orchestra BioMed stock in a transaction dated Friday, March 13th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the insider owned 1,086,467 shares in the company, valued at approximately $4,660,943.43. This trade represents a 0.93% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its holdings in Orchestra BioMed by 9.2% during the 3rd quarter. Citadel Advisors LLC now owns 54,002 shares of the company’s stock worth $134,000 after acquiring an additional 4,561 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Orchestra BioMed by 35.7% during the second quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after acquiring an additional 5,678 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Orchestra BioMed during the fourth quarter valued at $38,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of Orchestra BioMed during the second quarter worth $31,000. Finally, Virtu Financial LLC acquired a new position in shares of Orchestra BioMed during the fourth quarter worth $57,000. 53.20% of the stock is currently owned by institutional investors and hedge funds.

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.