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 report issued on Monday,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 230.97% from the stock’s current price.

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

Orchestra BioMed Trading Up 3.4 %

Shares of NASDAQ:OBIO opened at $4.23 on Monday. The firm has a market cap of $160.80 million, a P/E ratio of -2.63 and a beta of 0.59. Orchestra BioMed has a twelve month low of $3.75 and a twelve month high of $8.87. The company has a 50 day moving average of $5.18 and a 200-day moving average of $5.37.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. 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 valued at $51,000 after buying an additional 2,642 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock valued at $53,000 after purchasing an additional 3,992 shares during the period. Millennium Management LLC acquired a new position in shares of Orchestra BioMed in the fourth quarter valued at about $86,000. Bank of America Corp DE increased its holdings in shares of Orchestra BioMed by 42.0% during the fourth 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 increased its stake 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. Institutional investors and hedge funds 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.