HC Wainwright Reaffirms Buy Rating for Orchestra BioMed (NASDAQ:OBIO)

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $14.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 139.73% from the stock’s current price. HC Wainwright also issued estimates for Orchestra BioMed’s Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.65) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.43) EPS, Q3 2025 earnings at ($0.43) EPS, Q4 2025 earnings at ($0.44) EPS and FY2025 earnings at ($1.72) EPS.

Several other research analysts have also recently issued reports on the stock. B. Riley began coverage on shares of Orchestra BioMed in a report on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price for the company. Chardan Capital restated a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday.

Orchestra BioMed Stock Down 6.0 %

Shares of NASDAQ OBIO opened at $5.84 on Friday. The business has a 50-day moving average of $5.42 and a two-hundred day moving average of $6.26. Orchestra BioMed has a 1 year low of $4.22 and a 1 year high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.81 million. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. Equities research analysts anticipate that Orchestra BioMed will post -1.67 EPS for the current fiscal year.

Insider Activity

In related news, insider Darren Sherman sold 6,804 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $5.48, for a total transaction of $37,285.92. Following the transaction, the insider now owns 772,691 shares of the company’s stock, valued at $4,234,346.68. This trade represents a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 24,260 shares of company stock valued at $138,573 in the last ninety days. 6.70% of the stock is currently owned by company insiders.

Institutional Trading of Orchestra BioMed

A number of hedge funds have recently added to or reduced their stakes in OBIO. RTW Investments LP raised its stake in shares of Orchestra BioMed by 46.0% during the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock worth $42,180,000 after purchasing an additional 2,585,519 shares during the last quarter. Geode Capital Management LLC raised its position in Orchestra BioMed by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after buying an additional 11,002 shares during the last quarter. State Street Corp lifted its stake in shares of Orchestra BioMed by 12.4% in the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after acquiring an additional 47,308 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Orchestra BioMed by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after acquiring an additional 8,107 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Orchestra BioMed by 115.7% during the second quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after acquiring an additional 37,906 shares during the period. 53.55% of the stock is owned by institutional investors and hedge funds.

Orchestra BioMed Company Profile

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.