BTIG Research assumed coverage on shares of Orchestra BioMed (NASDAQ:OBIO - Free Report) in a report published on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $12.00 target price on the stock.
A number of other brokerages have also recently weighed in on OBIO. Barclays started coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They set an "overweight" rating and a $16.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Orchestra BioMed in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $15.40.
Read Our Latest Research Report on OBIO
Orchestra BioMed Stock Performance
Orchestra BioMed stock traded up $0.06 during trading on Thursday, reaching $4.57. The company had a trading volume of 27,891 shares, compared to its average volume of 82,355. The firm has a market capitalization of $173.72 million, a price-to-earnings ratio of -2.84 and a beta of 0.59. The stock's 50 day moving average price is $4.97 and its two-hundred day moving average price is $5.20. Orchestra BioMed has a 12-month low of $3.75 and a 12-month high of $8.87.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC lifted its position in shares of Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock worth $51,000 after purchasing an additional 2,642 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock worth $148,000 after buying an additional 3,704 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock worth $53,000 after buying an additional 3,992 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Orchestra BioMed by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company's stock valued at $2,290,000 after acquiring an additional 5,222 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Orchestra BioMed by 2.5% during the 4th quarter. Northern Trust Corp now owns 236,761 shares of the company's stock valued at $947,000 after acquiring an additional 5,725 shares in the last quarter. 53.55% of the stock is currently owned by institutional investors.
About Orchestra BioMed
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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.
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