Orchestra BioMed (NASDAQ:OBIO) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Orchestra BioMed (NASDAQ:OBIO) announced its quarterly earnings results on Tuesday. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.07, FiscalAI reports. Orchestra BioMed had a negative net margin of 157.40% and a negative return on equity of 184.17%. The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.92 million.

Orchestra BioMed Stock Performance

OBIO stock traded up $0.15 during trading on Tuesday, hitting $4.06. The company had a trading volume of 137,642 shares, compared to its average volume of 203,237. The firm has a market cap of $243.12 million, a PE ratio of -3.59 and a beta of 0.52. Orchestra BioMed has a 1-year low of $2.20 and a 1-year high of $5.42. The firm has a 50-day moving average price of $4.33 and a 200-day moving average price of $4.26. The company has a quick ratio of 6.43, a current ratio of 6.45 and a debt-to-equity ratio of 0.27.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Orchestra BioMed from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 14th. Chardan Capital reiterated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Thursday, March 12th. Finally, Weiss Ratings lowered shares of Orchestra BioMed from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.25.

Insider Transactions at Orchestra BioMed

In related news, insider David P. Hochman purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the transaction, the insider directly owned 1,086,467 shares of the company’s stock, valued at approximately $4,660,943.43. The trade was a 0.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Orchestra BioMed

Institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC increased its stake in shares of Orchestra BioMed by 9.2% during the third 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 period. Bank of America Corp DE increased 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 worth $58,000 after acquiring an additional 5,678 shares during the period. Virtu Financial LLC acquired a new position in shares of Orchestra BioMed during the fourth quarter worth about $57,000. Creative Planning acquired a new position in shares of Orchestra BioMed during the second quarter worth about $40,000. Finally, XTX Topco Ltd increased its stake in shares of Orchestra BioMed by 44.6% during the fourth quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock worth $209,000 after acquiring an additional 15,540 shares during the period. Institutional investors and hedge funds own 53.20% of the company’s stock.

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.