Orchestra BioMed (NASDAQ:OBIO) Stock Keeps Buy Rating at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by Chardan Capital in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $20.00 price target on the stock. Chardan Capital‘s price target indicates a potential upside of 265.63% from the company’s previous close.

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

Orchestra BioMed Stock Down 5.7%

Shares of NASDAQ:OBIO opened at $5.47 on Friday. Orchestra BioMed has a 52 week low of $3.46 and a 52 week high of $6.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The company has a market capitalization of $328.75 million, a PE ratio of -6.44 and a beta of 0.52. The company has a 50 day moving average price of $5.62 and a two-hundred day moving average price of $4.60.

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

Insider Activity at Orchestra BioMed

In other news, insider Darren Sherman sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 1,134,402 shares of the company’s stock, valued at $5,603,945.88. This trade represents a 1.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David Hochman acquired 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was acquired at an average price of $4.79 per share, for a total transaction 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 $5,128,873.34. The trade was a 0.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 45,000 shares of company stock valued at $230,850 over the last ninety days. Company insiders own 7.50% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Knott David M Jr boosted its stake in shares of Orchestra BioMed by 1.5% during the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock worth $1,078,000 after buying an additional 3,651 shares during the last quarter. Algert Global LLC grew its holdings in shares of Orchestra BioMed by 94.4% in the 2nd quarter. Algert Global LLC now owns 28,486 shares of the company’s stock valued at $123,000 after acquiring an additional 13,830 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Orchestra BioMed by 93.6% in the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock valued at $153,000 after acquiring an additional 17,100 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Orchestra BioMed in the first quarter valued at about $81,000. Finally, Canada Pension Plan Investment Board bought a new stake in Orchestra BioMed during the second quarter worth about $91,000. 53.20% of the stock is owned by institutional investors.

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.