Orchestra BioMed (NASDAQ:OBIO) Shares Up 5.1% – Still a Buy?

Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO)’s share price shot up 5.1% during trading on Thursday . The company traded as high as $5.67 and last traded at $5.60. 35,693 shares traded hands during trading, a decline of 73% from the average session volume of 132,151 shares. The stock had previously closed at $5.33.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OBIO shares. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research report on Friday, November 15th. Barclays initiated coverage on shares of Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price target for the company. Finally, Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research report on Wednesday, November 13th.

Orchestra BioMed Stock Performance

The stock has a market capitalization of $212.86 million, a price-to-earnings ratio of -3.48 and a beta of 0.57. The business has a 50-day moving average of $5.22 and a 200-day moving average of $5.56.

Orchestra BioMed (NASDAQ:OBIO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $0.81 million. Equities analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Orchestra BioMed

Several institutional investors have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC lifted its stake in Orchestra BioMed by 26.0% during the fourth quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after purchasing an additional 2,642 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Orchestra BioMed by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock valued at $343,000 after buying an additional 3,245 shares during the period. Wells Fargo & Company MN lifted its stake in Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after acquiring an additional 3,992 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Orchestra BioMed by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock valued at $2,290,000 after acquiring an additional 5,222 shares during the period. Finally, Barclays PLC grew its position in Orchestra BioMed by 18.9% in the 4th quarter. Barclays PLC now owns 37,786 shares of the company’s stock valued at $152,000 after acquiring an additional 6,001 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

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.