Orchestra BioMed (NASDAQ:OBIO) Coverage Initiated at BTIG Research

BTIG Research initiated coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

Several other brokerages have also recently commented on OBIO. Barclays started coverage on shares of Orchestra BioMed in a report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of Orchestra BioMed in a research report on Monday, March 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.40.

Orchestra BioMed Trading Up 3.7 %

Orchestra BioMed stock opened at $4.51 on Thursday. The stock has a market cap of $171.44 million, a price-to-earnings ratio of -2.80 and a beta of 0.59. The company’s 50-day moving average price is $4.99 and its two-hundred day moving average price is $5.22. Orchestra BioMed has a 52 week low of $3.75 and a 52 week high of $8.87.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors and hedge funds have recently made changes to their positions in the company. RTW Investments LP boosted its stake in shares of Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after purchasing an additional 2,585,519 shares in the last quarter. State Street Corp raised its holdings in shares of Orchestra BioMed by 12.4% in the third quarter. State Street Corp now owns 429,613 shares of the company’s stock valued at $2,208,000 after buying an additional 47,308 shares during the last quarter. Barclays PLC raised its holdings in shares of Orchestra BioMed by 281.3% in the third quarter. Barclays PLC now owns 31,785 shares of the company’s stock valued at $163,000 after buying an additional 23,448 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Orchestra BioMed by 2.0% in the third quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after buying an additional 11,002 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Orchestra BioMed by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock valued at $1,115,000 after buying an additional 8,107 shares during 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.