Orchestra BioMed (NASDAQ:OBIO) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report released on Monday,Benzinga reports. They currently have a $14.00 price target on the stock.

Other research analysts have also issued reports about the stock. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research report on Wednesday, November 13th. Barclays started coverage on Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective for the company.

Orchestra BioMed Price Performance

Shares of Orchestra BioMed stock opened at $3.97 on Monday. Orchestra BioMed has a 1 year low of $3.75 and a 1 year high of $8.87. The firm has a market cap of $150.92 million, a PE ratio of -2.47 and a beta of 0.59. The company has a 50 day simple moving average of $5.17 and a two-hundred day simple moving average of $5.36.

Institutional Trading of Orchestra BioMed

Several institutional investors have recently added to or reduced their stakes in OBIO. RTW Investments LP lifted its stake in shares of Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after acquiring an additional 2,585,519 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Orchestra BioMed by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock valued at $2,290,000 after purchasing an additional 5,222 shares during the period. State Street Corp grew its holdings in shares of Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares during the last quarter. Boxer Capital Management LLC purchased a new position in shares of Orchestra BioMed in the fourth quarter worth $953,000. Finally, Northern Trust Corp raised its holdings in 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 buying an additional 5,725 shares during the last quarter. 53.55% of the stock is currently owned by hedge funds and other institutional investors.

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.