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

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $14.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 250.00% from the stock’s current price.

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

Orchestra BioMed Price Performance

Shares of NASDAQ:OBIO opened at $4.00 on Monday. The firm has a fifty day moving average price of $5.17 and a two-hundred day moving average price of $5.34. Orchestra BioMed has a one year low of $3.75 and a one year high of $8.87. The company has a market cap of $152.06 million, a price-to-earnings ratio of -2.48 and a beta of 0.59.

Institutional Trading of Orchestra BioMed

A number of hedge funds have recently made changes to their positions in OBIO. SG Americas Securities LLC raised its position in Orchestra BioMed by 26.0% in the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after purchasing an additional 2,642 shares during the period. Wells Fargo & Company MN raised its position in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after purchasing an additional 3,992 shares during the period. Millennium Management LLC purchased a new position in Orchestra BioMed in the 4th quarter worth $86,000. Bank of America Corp DE raised its position in Orchestra BioMed by 42.0% in the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after purchasing an additional 7,036 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Orchestra BioMed by 11.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after purchasing an additional 3,704 shares during the period. 53.55% of the stock is owned by 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.