Orchestra BioMed (NASDAQ:OBIO) Now Covered by Barclays

Analysts at Barclays began coverage on shares of Orchestra BioMed (NASDAQ:OBIO - Get Free Report) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $16.00 price target on the stock. Barclays's price objective would indicate a potential upside of 197.40% from the company's previous close.

OBIO has been the subject of several other research reports. HC Wainwright restated a "buy" rating and issued a $14.00 target price on shares of Orchestra BioMed in a research note on Friday, November 15th. Chardan Capital restated a "buy" rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, November 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $15.80.

Orchestra BioMed Price Performance

Shares of OBIO traded up $1.38 during trading hours on Thursday, hitting $5.38. The company's stock had a trading volume of 1,717,063 shares, compared to its average volume of 74,991. The company has a market cap of $204.52 million, a price-to-earnings ratio of -3.34 and a beta of 0.44. The business has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $6.03. Orchestra BioMed has a 52-week low of $3.96 and a 52-week high of $10.06.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.03. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.81 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. Research analysts predict that Orchestra BioMed will post -1.66 earnings per share for the current year.

Institutional Trading of Orchestra BioMed

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its stake in Orchestra BioMed by 281.3% in the 3rd quarter. Barclays PLC now owns 31,785 shares of the company's stock worth $163,000 after buying an additional 23,448 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Orchestra BioMed by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company's stock valued at $2,916,000 after purchasing an additional 11,002 shares in the last quarter. State Street Corp grew its holdings in shares of Orchestra BioMed by 12.4% during the 3rd quarter. State Street Corp now owns 429,613 shares of the company's stock valued at $2,208,000 after purchasing an additional 47,308 shares during the last quarter. RTW Investments LP raised its position in Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company's stock worth $42,180,000 after purchasing an additional 2,585,519 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Orchestra BioMed by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company's stock worth $1,115,000 after purchasing an additional 8,107 shares during the last quarter. Hedge funds and other institutional investors own 53.55% of the company's stock.

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.