Orchestra BioMed (NASDAQ:OBIO) Issues Quarterly Earnings Results

Orchestra BioMed (NASDAQ:OBIO) issued its quarterly earnings data on Monday. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.04), Zacks reports. The company had revenue of $0.78 million for the quarter, compared to analysts’ expectations of $1.04 million. Orchestra BioMed had a negative net margin of 2,330.46% and a negative return on equity of 70.18%.

Orchestra BioMed Price Performance

NASDAQ:OBIO traded down $0.50 during midday trading on Wednesday, hitting $5.46. The company’s stock had a trading volume of 53,844 shares, compared to its average volume of 83,232. Orchestra BioMed has a fifty-two week low of $4.22 and a fifty-two week high of $11.69. The firm has a market cap of $195.40 million, a P/E ratio of -4.05 and a beta of 0.45. The firm’s 50 day moving average is $7.45 and its 200-day moving average is $6.31.

Insider Buying and Selling at Orchestra BioMed

In other Orchestra BioMed news, insider William Reed Little acquired 4,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $7.00 per share, for a total transaction of $28,000.00. Following the completion of the purchase, the insider now directly owns 307,859 shares of the company’s stock, valued at $2,155,013. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. B. Riley initiated coverage on Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 price target on the stock. Chardan Capital reiterated a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a report on Wednesday, June 12th.

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.