Orchestra BioMed (NASDAQ:OBIO) Given Buy Rating at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Chardan Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $20.00 price target on the stock.

Several other research firms 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 objective for the company. B. Riley upgraded shares of Orchestra BioMed to a "strong-buy" rating in a research report on Thursday, April 3rd. BTIG Research began coverage on Orchestra BioMed in a report on Thursday, March 20th. They set a "buy" rating and a $12.00 price target for the company. Finally, HC Wainwright reduced their price objective on Orchestra BioMed from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $15.00.

Orchestra BioMed Stock Up 0.2 %

Shares of Orchestra BioMed stock traded up $0.01 during trading on Tuesday, reaching $2.85. The company's stock had a trading volume of 13,768,314 shares, compared to its average volume of 269,106. Orchestra BioMed has a 52 week low of $2.49 and a 52 week high of $8.87. The business's 50-day moving average price is $4.01 and its 200-day moving average price is $4.91. The firm has a market cap of $109.00 million, a PE ratio of -1.77 and a beta of 0.62.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.43). Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The company had revenue of $0.25 million during the quarter, compared to the consensus estimate of $0.79 million. Equities analysts predict that Orchestra BioMed will post -1.66 earnings per share for the current year.

Institutional Trading of Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. Millennium Management LLC acquired a new position in Orchestra BioMed in the fourth quarter valued at $86,000. Bank of America Corp DE grew its holdings in shares of Orchestra BioMed by 42.0% during the fourth quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock valued at $95,000 after buying an additional 7,036 shares during the last quarter. Boxer Capital Management LLC bought a new stake in shares of Orchestra BioMed during the fourth quarter worth about $953,000. Northern Trust Corp lifted its position in Orchestra BioMed by 2.5% in 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. Finally, The Manufacturers Life Insurance Company boosted its stake 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 valued at $148,000 after purchasing an additional 3,704 shares during the last quarter. Institutional investors own 53.55% of the company's stock.

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.

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