Orchestra BioMed (NASDAQ:OBIO) Receives “Buy” Rating from Chardan Capital

Chardan Capital restated their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a report published on Wednesday morning, Benzinga reports. They currently have a $20.00 price objective on the stock.

Orchestra BioMed Price Performance

OBIO stock opened at $7.94 on Wednesday. Orchestra BioMed has a one year low of $4.22 and a one year high of $14.19. The stock has a market cap of $284.17 million, a PE ratio of -5.36 and a beta of 0.42. The firm has a 50 day simple moving average of $5.50 and a two-hundred day simple moving average of $6.58.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.02. Orchestra BioMed had a negative net margin of 2,330.46% and a negative return on equity of 70.18%. The business had revenue of $0.62 million during the quarter, compared to analysts’ expectations of $1.28 million. On average, research analysts expect that Orchestra BioMed will post -1.58 EPS for the current fiscal year.

Insider Transactions at Orchestra BioMed

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

Institutional Investors Weigh In On Orchestra BioMed

An institutional investor recently bought a new position in Orchestra BioMed stock. Catalytic Wealth RIA LLC acquired a new position in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,261 shares of the company’s stock, valued at approximately $117,000. Catalytic Wealth RIA LLC owned approximately 0.06% of Orchestra BioMed at the end of the most recent quarter. 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.