Orchestra BioMed (NASDAQ:OBIO – Get Free Report) issued its earnings results on Tuesday. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.03, Zacks reports. The company had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 102.19%.
Orchestra BioMed Trading Up 2.3 %
Shares of Orchestra BioMed stock traded up $0.14 on Thursday, hitting $6.21. 93,088 shares of the company traded hands, compared to its average volume of 76,396. Orchestra BioMed has a 52 week low of $4.22 and a 52 week high of $11.69. The company has a market cap of $234.92 million, a PE ratio of -3.77 and a beta of 0.42. The stock’s 50 day moving average price is $5.40 and its 200-day moving average price is $6.23.
Wall Street Analyst Weigh In
Several brokerages have commented on OBIO. B. Riley assumed coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 price target on the stock. HC Wainwright began coverage on Orchestra BioMed in a research report on Thursday, August 22nd. They set a “buy” rating and a $14.00 target price for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday.
Insider Buying and Selling
In other news, insider Darren Sherman sold 6,819 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $5.65, for a total value of $38,527.35. Following the completion of the sale, the insider now owns 779,495 shares of the company’s stock, valued at approximately $4,404,146.75. This represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 24,260 shares of company stock valued at $138,573 over the last quarter. 6.70% of the stock is owned by corporate insiders.
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.
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