Orchestra BioMed (NASDAQ:OBIO) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

by · The Markets Daily

Orchestra BioMed (NASDAQ:OBIO – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03, Zacks reports. Orchestra BioMed had a negative return on equity of 102.19% and a negative net margin of 2,179.33%. The company had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.81 million.

Orchestra BioMed Stock Performance

Shares of NASDAQ:OBIO opened at $6.07 on Thursday. The company has a market cap of $229.63 million, a P/E ratio of -3.77 and a beta of 0.42. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $6.23. Orchestra BioMed has a 52-week low of $4.22 and a 52-week high of $11.69.

Analysts Set New Price Targets

OBIO has been the subject of a number of analyst reports. HC Wainwright began coverage on shares of Orchestra BioMed in a research note on Thursday, August 22nd. They set a “buy” rating and a $14.00 price objective for the company. B. Riley started coverage on Orchestra BioMed in a research report on Thursday, July 25th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday.

View Our Latest Stock Analysis on Orchestra BioMed

Insiders Place Their Bets

In other news, insider Darren Sherman sold 6,837 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $6.10, for a total value of $41,705.70. Following the completion of the sale, the insider now directly owns 793,275 shares of the company’s stock, valued at approximately $4,838,977.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 24,260 shares of company stock valued at $138,573 in the last three months. Company insiders own 6.70% of the company’s stock.

About Orchestra BioMed

(Get Free Report)

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.

Featured Articles