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

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research note issued to investors on Friday, Benzinga reports. They presently have a $20.00 price target on the stock. Chardan Capital‘s price objective indicates a potential upside of 256.19% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley Financial boosted their price objective on Orchestra BioMed from $10.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, September 15th. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Orchestra BioMed in a research report on Monday, October 5th. Piper Sandler restated an “overweight” rating on shares of Orchestra BioMed in a research note on Thursday, October 15th. Finally, Weiss Ratings upgraded shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.17.

Orchestra BioMed Price Performance

Shares of OBIO traded up $0.15 during mid-day trading on Friday, hitting $5.62. 128,340 shares of the company were exchanged, compared to its average volume of 280,091. The company has a 50 day moving average of $5.62 and a 200-day moving average of $4.60. The company has a debt-to-equity ratio of 1.80, a quick ratio of 8.24 and a current ratio of 8.26. The stock has a market cap of $337.46 million, a price-to-earnings ratio of -6.61 and a beta of 0.52. Orchestra BioMed has a 1-year low of $3.46 and a 1-year high of $6.50.

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

Insider Buying and Selling at Orchestra BioMed

In other news, insider David Hochman purchased 10,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was acquired at an average price of $4.79 per share, for a total transaction of $47,900.00. Following the completion of the transaction, the insider directly owned 1,070,746 shares in the company, valued at $5,128,873.34. This represents a 0.94% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Darren Sherman sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $6.36, for a total transaction of $95,400.00. Following the transaction, the insider directly owned 1,119,402 shares of the company’s stock, valued at approximately $7,119,396.72. This trade represents a 1.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,000 shares of company stock worth $230,850 in the last three months. 7.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of large investors have recently modified their holdings of the stock. Daytona Street Capital LLC boosted its holdings in Orchestra BioMed by 27.7% in the third quarter. Daytona Street Capital LLC now owns 123,148 shares of the company’s stock valued at $744,000 after purchasing an additional 26,750 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Orchestra BioMed by 93.6% in the second quarter. HighTower Advisors LLC now owns 35,375 shares of the company’s stock valued at $153,000 after acquiring an additional 17,100 shares in the last quarter. AXQ Capital LP acquired a new position in Orchestra BioMed during the second quarter worth about $110,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Orchestra BioMed in the second quarter worth approximately $2,771,000. Finally, Bank of America Corp DE purchased a new position in Orchestra BioMed in the 2nd quarter worth about $103,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

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.