Orchestra BioMed's (OBIO) Buy Rating Reaffirmed at Chardan Capital

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

OBIO has been the subject of a number of other research reports. Barclays began coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They issued an "overweight" rating and a $16.00 price target for the company. BTIG Research began coverage on shares of Orchestra BioMed in a research note on Thursday, March 20th. They set a "buy" rating and a $12.00 target price on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of Orchestra BioMed in a research note on Monday, March 10th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $15.00.

Orchestra BioMed Stock Performance

NASDAQ:OBIO traded down $0.09 during trading hours on Tuesday, reaching $2.67. The company's stock had a trading volume of 18,445 shares, compared to its average volume of 84,974. The firm has a market capitalization of $101.50 million, a price-to-earnings ratio of -1.66 and a beta of 0.62. The firm has a 50-day simple moving average of $4.71 and a 200-day simple moving average of $5.10. Orchestra BioMed has a 1 year low of $2.54 and a 1 year high of $8.87.

Orchestra BioMed (NASDAQ:OBIO - Get Free Report) last posted its earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, hitting 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 analyst estimates of $0.79 million. Equities analysts anticipate that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orchestra BioMed

A number of hedge funds and other institutional investors have recently bought and sold shares of OBIO. SG Americas Securities LLC boosted its holdings in Orchestra BioMed by 26.0% in the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock worth $51,000 after acquiring an additional 2,642 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Orchestra BioMed by 43.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after buying an additional 3,992 shares during the last quarter. Millennium Management LLC bought a new position in Orchestra BioMed during the 4th quarter valued at about $86,000. Bank of America Corp DE boosted its holdings in shares of Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company's stock valued at $95,000 after acquiring an additional 7,036 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Orchestra BioMed by 11.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company's stock worth $148,000 after acquiring an additional 3,704 shares during the period. Hedge funds and other 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.