Orchestra BioMed’s (OBIO) Buy Rating Reiterated at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They currently have a $20.00 target price on the stock. Chardan Capital‘s price objective would suggest a potential upside of 256.13% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Orchestra BioMed in a research note on Monday, October 5th. Piper Sandler reiterated an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Finally, B. Riley Financial upped their price target on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, September 15th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Orchestra BioMed Stock Up 0.5%

NASDAQ OBIO opened at $5.62 on Friday. The firm has a market cap of $337.52 million, a PE ratio of -6.62 and a beta of 0.52. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The business’s fifty day simple moving average is $5.65 and its 200-day simple moving average is $4.61. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.01. Orchestra BioMed had a negative net margin of 184.60% and a negative return on equity of 149.61%. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.14 million. As a group, equities analysts anticipate that Orchestra BioMed will post -1.53 earnings per share for the current year.

Insider Buying and Selling at Orchestra BioMed

In related news, insider David Hochman acquired 10,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were purchased at an average price of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. The trade was a 0.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $4.94, for a total transaction of $74,100.00. Following the sale, the insider owned 1,134,402 shares of the company’s stock, valued at $5,603,945.88. The trade was a 1.31% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,000 shares of company stock valued at $230,850 over the last quarter. Corporate insiders own 7.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC bought a new stake in shares of Orchestra BioMed during the first quarter worth $81,000. Canada Pension Plan Investment Board bought a new stake in Orchestra BioMed during the 2nd quarter worth approximately $91,000. Cannon Global Investment Management LLC acquired a new position in Orchestra BioMed in the 1st quarter valued at approximately $96,000. Bank of America Corp DE acquired a new stake in Orchestra BioMed in the second quarter valued at $103,000. Finally, AXQ Capital LP bought a new stake in shares of Orchestra BioMed in the 2nd quarter valued at about $110,000. 53.20% of the stock is owned by institutional investors.

About Orchestra BioMed

Orchestra BioMed Holdings, Inc is a clinical-stage biotechnology and medical device company focused on developing technologies for cardiovascular disease and other high-need medical conditions. The company uses a partnership-driven business model, collaborating with established medical device and healthcare companies to advance products through clinical development and toward commercialization.

Its lead program is BackBeat Cardiac Neuromodulation Therapy, an investigational bioelectronic treatment intended to provide sustained reductions in blood pressure for patients with hypertension.