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

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by research analysts at Chardan Capital in a report released on Friday, Benzinga reports. They currently have a $20.00 target price on the stock. Chardan Capital‘s target price indicates a potential upside of 257.46% from the company’s previous close.

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

Orchestra BioMed Price Performance

Shares of OBIO traded up $0.13 during mid-day trading on Friday, reaching $5.60. The stock had a trading volume of 141,384 shares, compared to its average volume of 280,149. The business has a fifty day moving average of $5.62 and a 200 day moving average of $4.60. Orchestra BioMed has a 12 month low of $3.46 and a 12 month high of $6.50. The firm has a market cap of $336.26 million, a price-to-earnings ratio of -6.57 and a beta of 0.52. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26.

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

Insiders Place Their Bets

In other news, insider Darren Sherman sold 15,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $6.36, for a total value of $95,400.00. Following the sale, the insider owned 1,119,402 shares in the company, valued at $7,119,396.72. This represents a 1.32% decrease in their ownership of the stock. The transaction 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 business’s 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 purchase, the insider directly owned 1,070,746 shares of the company’s stock, valued at approximately $5,128,873.34. This trade represents a 0.94% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 45,000 shares of company stock worth $230,850 in the last quarter. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $2,771,000. Rice Hall James & Associates LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $1,830,000. Flat Footed LLC acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at about $1,084,670. Finally, Knott David M Jr lifted its holdings in shares of Orchestra BioMed by 1.5% in the 1st quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after buying an additional 3,651 shares during the period. Institutional investors and hedge funds own 53.20% of the company’s stock.

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.