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

Investment analysts at BTIG Research started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $12.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 170.88% from the company’s previous close.

Several other research analysts have also commented on the company. Barclays began coverage on Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research report on Monday, March 10th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.40.

Orchestra BioMed Stock Up 9.4 %

Shares of OBIO stock opened at $4.43 on Thursday. The firm has a market cap of $168.40 million, a price-to-earnings ratio of -2.75 and a beta of 0.59. Orchestra BioMed has a 52-week low of $3.75 and a 52-week high of $8.87. The company’s 50 day moving average is $5.03 and its 200 day moving average is $5.24.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its stake in shares of Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after buying an additional 2,642 shares during the period. The Manufacturers Life Insurance Company lifted its position 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 worth $148,000 after acquiring an additional 3,704 shares during the period. Wells Fargo & Company MN lifted its position in Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after acquiring an additional 3,992 shares during the period. Geode Capital Management LLC grew its stake in Orchestra BioMed by 0.9% during the 4th 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 holdings in shares of Orchestra BioMed by 2.5% in 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 period. Hedge funds and other 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.