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

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research report issued on Friday, Benzinga reports. They currently have a $20.00 price objective on the stock. Chardan Capital‘s price objective suggests a potential upside of 257.78% from the stock’s previous close.

Several other brokerages have also weighed in on OBIO. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. B. Riley Financial boosted their target price on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. Weiss Ratings upgraded Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.17.

Orchestra BioMed Stock Up 2.2%

Shares of Orchestra BioMed stock traded up $0.12 on Friday, reaching $5.59. 68,557 shares of the company were exchanged, compared to its average volume of 279,716. The stock’s 50 day moving average price is $5.62 and its 200-day moving average price is $4.60. The company has a debt-to-equity ratio of 1.80, a current ratio of 8.26 and a quick ratio of 8.24. Orchestra BioMed has a 1-year low of $3.46 and a 1-year high of $6.50. The company has a market cap of $335.96 million, a P/E ratio of -6.58 and a beta of 0.52.

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

Insider Buying and Selling

In other Orchestra BioMed news, insider David Hochman acquired 10,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the insider directly owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. The trade was a 0.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total value of $95,400.00. Following the completion of the transaction, the insider owned 1,119,402 shares of the company’s stock, valued at $7,119,396.72. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 45,000 shares of company stock worth $230,850. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC grew its holdings in Orchestra BioMed by 27.7% in the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock valued at $744,000 after purchasing an additional 26,750 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of Orchestra BioMed by 93.6% during the 2nd quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock worth $153,000 after buying an additional 17,100 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Orchestra BioMed during the 2nd quarter worth $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Orchestra BioMed in the 2nd quarter worth about $2,771,000. Finally, Bank of America Corp DE purchased a new stake in shares of Orchestra BioMed in the 2nd quarter worth about $103,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

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.