Orchestra BioMed’s (OBIO) “Buy” Rating Reaffirmed at HC Wainwright

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

Several other equities analysts have also recently commented on OBIO. Barclays started coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

Orchestra BioMed Trading Up 0.5 %

Shares of NASDAQ:OBIO opened at $4.02 on Monday. The company has a 50 day moving average of $5.17 and a 200 day moving average of $5.33. The stock has a market cap of $152.82 million, a P/E ratio of -2.50 and a beta of 0.59. Orchestra BioMed has a 12 month low of $3.75 and a 12 month high of $8.87.

Institutional Investors Weigh In On Orchestra BioMed

A number of hedge funds have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Orchestra BioMed in the 4th quarter worth approximately $86,000. Bank of America Corp DE raised its holdings 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 buying an additional 7,036 shares during the last quarter. Boxer Capital Management LLC bought a new stake in Orchestra BioMed during the 4th quarter valued at $953,000. 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. Finally, The Manufacturers Life Insurance Company raised its holdings 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 buying an additional 3,704 shares during the last quarter. 53.55% of the stock is currently owned by institutional investors.

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.