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

BTIG Research started coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report sent to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $12.00 price target on the stock.

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

Orchestra BioMed Trading Down 1.8 %

Orchestra BioMed stock opened at $4.35 on Thursday. Orchestra BioMed has a 1 year low of $3.75 and a 1 year high of $8.87. The company has a market cap of $165.36 million, a PE ratio of -2.70 and a beta of 0.59. The company’s 50-day moving average is $5.00 and its two-hundred day moving average is $5.24.

Institutional Trading of Orchestra BioMed

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in Orchestra BioMed by 26.0% during the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after purchasing an additional 2,642 shares in the last quarter. Wells Fargo & Company MN increased its stake in Orchestra BioMed by 43.6% during the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after purchasing an additional 3,992 shares in the last quarter. Millennium Management LLC bought a new stake in Orchestra BioMed during the 4th quarter worth approximately $86,000. Bank of America Corp DE increased its stake in Orchestra BioMed by 42.0% during the 4th quarter. Bank of America Corp DE now owns 23,780 shares of the company’s stock worth $95,000 after purchasing an additional 7,036 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Orchestra BioMed by 11.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after purchasing an additional 3,704 shares in the last quarter. 53.55% of the stock is owned by institutional investors.

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