Orchestra BioMed (NASDAQ:OBIO) Coverage Initiated at BTIG Research

Equities research analysts at BTIG Research started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 166.08% from the company’s previous close.

A number of other brokerages have also issued reports on OBIO. Barclays began coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They set an “overweight” rating and a $16.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Orchestra BioMed has a consensus rating of “Buy” and an average price target of $15.40.

Orchestra BioMed Stock Up 3.7 %

NASDAQ:OBIO opened at $4.51 on Thursday. The firm has a market cap of $171.44 million, a PE ratio of -2.80 and a beta of 0.59. Orchestra BioMed has a 12 month low of $3.75 and a 12 month high of $8.87. The company’s 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.22.

Institutional Investors Weigh In On Orchestra BioMed

Large investors have recently made changes to their positions in the stock. RTW Investments LP boosted its holdings in Orchestra BioMed by 46.0% during the third 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 last quarter. State Street Corp raised its position 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 valued at $2,208,000 after purchasing an additional 47,308 shares during the period. Barclays PLC increased its position in Orchestra BioMed by 281.3% during the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after acquiring an additional 23,448 shares during the period. Geode Capital Management LLC increased its position in Orchestra BioMed by 2.0% during the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock worth $2,916,000 after acquiring an additional 11,002 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after buying an additional 8,107 shares during the period. 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.