Orchestra BioMed (OBIO) to Release Quarterly Earnings on Wednesday

Orchestra BioMed (NASDAQ:OBIO) is anticipated to announce its earnings results before the market opens on Wednesday, March 26th. Analysts expect the company to announce earnings of ($0.43) per share for the quarter.

Orchestra BioMed Trading Up 3.7 %

NASDAQ:OBIO opened at $4.51 on Monday. The company has a 50-day moving average of $4.99 and a 200-day moving average of $5.21. The firm has a market cap of $171.44 million, a price-to-earnings ratio of -2.80 and a beta of 0.59. Orchestra BioMed has a twelve month low of $3.75 and a twelve month high of $8.87.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE boosted its position in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,780 shares of the company’s stock after purchasing an additional 7,036 shares during the period. Bank of America Corp DE owned 0.06% of Orchestra BioMed worth $95,000 at the end of the most recent reporting period. Institutional investors own 53.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a research report on Monday, March 10th. BTIG Research started coverage on Orchestra BioMed in a research report on Thursday. They issued a “buy” rating and a $12.00 price target for the company. Finally, Barclays assumed coverage on Orchestra BioMed in a report on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.40.

About Orchestra BioMed

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.