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

Barclays started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $16.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on OBIO. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th. Chardan Capital reissued a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $15.80.

Orchestra BioMed Stock Performance

OBIO stock opened at $5.79 on Thursday. The firm’s fifty day moving average is $5.38 and its 200 day moving average is $6.01. The firm has a market cap of $220.10 million, a PE ratio of -3.60 and a beta of 0.44. Orchestra BioMed has a one year low of $3.96 and a one year high of $10.06.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.81 million. Research analysts predict that Orchestra BioMed will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Orchestra BioMed

Large investors have recently modified their holdings of the business. RTW Investments LP boosted its position 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 acquiring an additional 2,585,519 shares during the last quarter. State Street Corp lifted its position in Orchestra BioMed by 12.4% during the third quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after buying an additional 47,308 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Orchestra BioMed by 115.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock valued at $576,000 after buying an additional 37,906 shares in the last quarter. Barclays PLC increased its stake in shares of Orchestra BioMed by 281.3% in the 3rd 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 last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in shares of Orchestra BioMed during the 2nd quarter worth $163,000. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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.