Orchestra BioMed (NASDAQ:OBIO) Receives Buy Rating from HC Wainwright

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They currently have a $14.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 125.44% from the company’s previous close.

Several other research firms also recently weighed in on OBIO. Chardan Capital reiterated a “buy” rating and issued a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday. B. Riley started coverage on shares of Orchestra BioMed in a research report on Thursday, July 25th. They set a “buy” rating and a $15.00 target price for the company.

Orchestra BioMed Price Performance

OBIO stock opened at $6.21 on Friday. Orchestra BioMed has a 1-year low of $4.22 and a 1-year high of $11.69. The stock has a market capitalization of $236.04 million, a P/E ratio of -3.86 and a beta of 0.42. The business has a fifty day moving average price of $5.41 and a 200-day moving average price of $6.23.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The business had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $0.81 million. As a group, analysts anticipate that Orchestra BioMed will post -1.67 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Darren Sherman sold 6,804 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $5.48, for a total transaction of $37,285.92. Following the completion of the sale, the insider now directly owns 772,691 shares of the company’s stock, valued at approximately $4,234,346.68. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 24,260 shares of company stock valued at $138,573. Company insiders own 6.70% of the company’s stock.

Institutional Investors Weigh In On Orchestra BioMed

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its stake in shares of Orchestra BioMed by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after acquiring an additional 3,245 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Orchestra BioMed by 192.7% in the 2nd quarter. Rhumbline Advisers now owns 26,439 shares of the company’s stock worth $215,000 after buying an additional 17,405 shares during the period. Bank of New York Mellon Corp grew its position in shares of Orchestra BioMed by 115.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,682 shares of the company’s stock worth $576,000 after buying an additional 37,906 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Orchestra BioMed during the third quarter valued at $52,000. Finally, Catalytic Wealth RIA LLC bought a new stake in shares of Orchestra BioMed in the first quarter valued at about $117,000. 53.55% of the stock is owned by hedge funds and other institutional investors.

About Orchestra BioMed

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.