Orchestra BioMed (NASDAQ:OBIO) Stock Rating Reaffirmed as Buy by Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research note issued on Friday, Benzinga reports. They presently have a $20.00 price target on the stock. Chardan Capital‘s price objective would indicate a potential upside of 255.49% from the stock’s previous close.

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

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock traded up $0.16 on Friday, hitting $5.63. The stock had a trading volume of 112,489 shares, compared to its average volume of 280,039. Orchestra BioMed has a twelve month low of $3.46 and a twelve month high of $6.50. The business’s 50 day moving average is $5.62 and its two-hundred day moving average is $4.60. The company has a quick ratio of 8.24, a current ratio of 8.26 and a debt-to-equity ratio of 1.80. The stock has a market cap of $338.12 million, a price-to-earnings ratio of -6.62 and a beta of 0.52.

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

Insider Buying and Selling

In other Orchestra BioMed news, insider David P. Hochman bought 10,000 shares of Orchestra BioMed stock in a transaction on Thursday, September 3rd. The shares were purchased at an average price of $4.79 per share, with a total value of $47,900.00. Following the acquisition, the insider owned 1,070,746 shares in the company, valued at $5,128,873.34. This trade represents a 0.94% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Darren Sherman sold 15,000 shares of the firm’s 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 completion of the sale, the insider directly owned 1,119,402 shares in the company, valued at approximately $7,119,396.72. This represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,000 shares of company stock worth $230,850 in the last three months. 7.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $2,771,000. Rice Hall James & Associates LLC acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $1,830,000. Knott David M Jr lifted its stake 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 acquiring an additional 3,651 shares during the last quarter. Finally, Flat Footed LLC bought a new position in shares of Orchestra BioMed in the 2nd quarter valued at $1,084,670. 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.