Orchestra BioMed (OBIO) Projected to Post Earnings on Wednesday

Orchestra BioMed (NASDAQ:OBIO) will likely be issuing its quarterly earnings data 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 Stock Performance

Orchestra BioMed stock opened at $4.51 on Monday. The business’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $5.21. Orchestra BioMed has a 52 week low of $3.75 and a 52 week high of $8.87. The firm has a market capitalization of $171.44 million, a PE ratio of -2.80 and a beta of 0.59.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE boosted its stake in Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,780 shares of the company’s stock after buying an additional 7,036 shares during the quarter. Bank of America Corp DE owned approximately 0.06% of Orchestra BioMed worth $95,000 at the end of the most recent quarter. 53.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OBIO has been the topic of several research analyst reports. Barclays started coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock. BTIG Research started coverage on shares of Orchestra BioMed in a research report on Thursday. They set a “buy” rating and a $12.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Orchestra BioMed has a consensus rating of “Buy” and an average 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.