Orchestra BioMed (NASDAQ:OBIO) Given New $12.00 Price Target at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO) had its price objective upped by HC Wainwright from $10.00 to $12.00 in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other research firms have also commented on OBIO. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price objective on shares of Orchestra BioMed in a research note on Friday, October 23rd. B. Riley Financial raised their target price on shares of Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, September 15th. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Finally, BTIG Research boosted their price target on shares of Orchestra BioMed from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.29.

Orchestra BioMed Trading Up 17.9%

Shares of Orchestra BioMed stock traded up $1.10 on Friday, reaching $7.25. 1,565,234 shares of the company were exchanged, compared to its average volume of 483,382. The stock has a fifty day moving average price of $5.86 and a 200-day moving average price of $4.63. The firm has a market capitalization of $445.51 million, a price-to-earnings ratio of -9.67 and a beta of 0.56. The company has a current ratio of 7.25, a quick ratio of 8.24 and a debt-to-equity ratio of 4.58. Orchestra BioMed has a fifty-two week low of $3.46 and a fifty-two week high of $7.37.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Orchestra BioMed had a negative return on equity of 186.93% and a negative net margin of 182.50%. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. On average, analysts expect that Orchestra BioMed will post -1.53 EPS for the current year.

Insiders Place Their Bets

In related news, insider Darren Sherman sold 15,000 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $5.74, for a total transaction of $86,100.00. Following the transaction, the insider directly owned 1,104,402 shares of the company’s stock, valued at approximately $6,339,267.48. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David P. Hochman acquired 10,000 shares of Orchestra BioMed stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average cost of $4.79 per share, with a total value of $47,900.00. Following the completion of the purchase, the insider owned 1,070,746 shares in the company, valued at approximately $5,128,873.34. This represents a 0.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders acquired 58,000 shares of company stock worth $288,560 and sold 45,000 shares worth $255,600. Company insiders own 7.50% of the company’s stock.

Hedge Funds Weigh In On Orchestra BioMed

Several institutional investors and hedge funds have recently bought and sold shares of OBIO. Jump Financial LLC acquired a new position in shares of Orchestra BioMed in the 3rd quarter valued at about $136,000. Empowered Funds LLC acquired a new stake in shares of Orchestra BioMed during the third quarter worth approximately $450,000. HighTower Advisors LLC boosted its holdings in shares of Orchestra BioMed by 8.7% during the third quarter. HighTower Advisors LLC now owns 38,462 shares of the company’s stock worth $239,000 after purchasing an additional 3,087 shares during the period. Daytona Street Capital LLC boosted its holdings in shares of Orchestra BioMed by 27.7% during the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock worth $744,000 after purchasing an additional 26,750 shares during the period. Finally, AXQ Capital LP acquired a new stake in shares of Orchestra BioMed during the second quarter worth approximately $110,000. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.