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

BTIG Research initiated coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a report released on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $12.00 target price on the stock.

Several other analysts have also recently commented on OBIO. Barclays began coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of Orchestra BioMed in a research note on Monday, March 10th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $15.40.

Orchestra BioMed Stock Up 3.7 %

Shares of NASDAQ OBIO opened at $4.51 on Thursday. Orchestra BioMed has a 52 week low of $3.75 and a 52 week high of $8.87. The firm has a 50-day moving average price of $4.99 and a 200 day moving average price of $5.22. The stock has a market capitalization of $171.44 million, a price-to-earnings ratio of -2.80 and a beta of 0.59.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in Orchestra BioMed by 26.0% in the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock valued at $51,000 after acquiring an additional 2,642 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Orchestra BioMed by 11.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock valued at $148,000 after acquiring an additional 3,704 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Orchestra BioMed by 43.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after acquiring an additional 3,992 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 last quarter. Finally, Northern Trust Corp increased its stake in Orchestra BioMed by 2.5% during the fourth quarter. Northern Trust Corp now owns 236,761 shares of the company’s stock valued at $947,000 after purchasing an additional 5,725 shares during the last quarter. 53.55% of the stock is owned by institutional investors and hedge funds.

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.