HC Wainwright reissued their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO - Free Report) in a research report report published on Monday morning,Benzinga reports. HC Wainwright currently has a $14.00 target price on the stock.
A number of other research analysts have also recently commented on OBIO. Chardan Capital reiterated a "buy" rating and issued a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, November 13th. Barclays assumed 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.
Read Our Latest Analysis on OBIO
Orchestra BioMed Stock Down 4.5 %
Shares of OBIO stock traded down $0.18 during trading hours on Monday, reaching $3.84. The company's stock had a trading volume of 60,929 shares, compared to its average volume of 82,746. The firm's 50 day simple moving average is $5.17 and its 200-day simple moving average is $5.33. The company has a market capitalization of $145.97 million, a price-to-earnings ratio of -2.39 and a beta of 0.59. Orchestra BioMed has a fifty-two week low of $3.75 and a fifty-two week high of $8.87.
Hedge Funds Weigh In On Orchestra BioMed
A number of hedge funds have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC boosted its stake in Orchestra BioMed by 26.0% during the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company's stock valued at $51,000 after purchasing an additional 2,642 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company's stock valued at $53,000 after purchasing an additional 3,992 shares during the last quarter. Millennium Management LLC acquired a new position in Orchestra BioMed during the 4th quarter valued at about $86,000. Bank of America Corp DE boosted its stake in 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 purchasing an additional 7,036 shares during 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 and hedge funds own 53.55% of the company's stock.
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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