Orchestra BioMed’s (OBIO) Buy Rating Reaffirmed at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reiterated by Chardan Capital in a research report issued on Thursday, Benzinga reports. They presently have a $20.00 price target on the stock. Chardan Capital’s price objective would indicate a potential upside of 277.00% from the stock’s previous close.

Separately, Jefferies Financial Group initiated coverage on Orchestra BioMed in a research report on Friday, January 19th. They issued a “buy” rating and a $14.00 price target for the company.

Orchestra BioMed Price Performance

Shares of NASDAQ:OBIO opened at $5.31 on Thursday. The firm has a 50 day moving average of $6.59 and a 200 day moving average of $6.94. Orchestra BioMed has a 52 week low of $4.26 and a 52 week high of $23.39.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Perceptive Advisors LLC purchased a new position in Orchestra BioMed in the first quarter worth $44,585,000. Vanguard Group Inc. grew its stake in Orchestra BioMed by 548.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,246,109 shares of the company’s stock worth $10,866,000 after buying an additional 1,053,937 shares during the last quarter. BlackRock Inc. acquired a new position in Orchestra BioMed during the 1st quarter valued at about $13,790,000. Geode Capital Management LLC purchased a new stake in Orchestra BioMed in the first quarter valued at about $2,446,000. Finally, State Street Corp raised its stake in Orchestra BioMed by 314.9% in the second quarter. State Street Corp now owns 141,837 shares of the company’s stock valued at $993,000 after buying an additional 107,651 shares during the last quarter. Institutional investors own 53.55% of the company’s stock.

Orchestra BioMed Company Profile

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; and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.