Orchestra BioMed (OBIO) Projected to Post Earnings on Wednesday

Orchestra BioMed (NASDAQ:OBIO) is expected to release its earnings data before the market opens on Wednesday, March 26th. Analysts expect Orchestra BioMed to post earnings of ($0.43) per share for the quarter.

Orchestra BioMed Stock Down 1.5 %

Shares of NASDAQ OBIO opened at $4.05 on Wednesday. Orchestra BioMed has a 52-week low of $3.75 and a 52-week high of $8.87. The firm has a fifty day moving average of $5.04 and a 200-day moving average of $5.25. The stock has a market capitalization of $153.96 million, a PE ratio of -2.52 and a beta of 0.59.

Hedge Funds Weigh In On Orchestra BioMed

An institutional investor recently raised its position in Orchestra BioMed stock. Bank of America Corp DE lifted its holdings in shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) by 42.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,780 shares of the company’s stock after acquiring an additional 7,036 shares during the quarter. Bank of America Corp DE owned about 0.06% of Orchestra BioMed worth $95,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 53.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OBIO. Barclays began coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a report on Monday, March 10th.

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.