Orchestra BioMed (NASDAQ:OBIO) Given Buy Rating at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research report released on Wednesday morning,Benzinga reports. Chardan Capital currently has a $20.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. B. Riley initiated coverage on shares of Orchestra BioMed in a research note on Thursday, July 25th. They issued a “buy” rating and a $15.00 price objective on the stock. HC Wainwright assumed coverage on shares of Orchestra BioMed in a research report on Thursday, August 22nd. They issued a “buy” rating and a $14.00 price target on the stock.

Orchestra BioMed Stock Performance

NASDAQ:OBIO opened at $5.84 on Wednesday. The stock’s 50 day moving average price is $5.42 and its 200 day moving average price is $6.26. Orchestra BioMed has a 52 week low of $4.22 and a 52 week high of $11.69.

Orchestra BioMed (NASDAQ:OBIO) last posted its earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.81 million. On average, equities research analysts predict that Orchestra BioMed will post -1.67 earnings per share for the current year.

Insider Activity at Orchestra BioMed

In related news, insider Darren Sherman sold 6,804 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $5.48, for a total value of $37,285.92. Following the sale, the insider now owns 772,691 shares of the company’s stock, valued at $4,234,346.68. The trade was a 0.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 24,260 shares of company stock worth $138,573. 6.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors have recently added to or reduced their stakes in OBIO. SG Americas Securities LLC acquired a new stake in Orchestra BioMed in the 3rd quarter valued at $52,000. ABLE Financial Group LLC acquired a new stake in shares of Orchestra BioMed in the 3rd quarter valued at $69,000. Catalytic Wealth RIA LLC bought a new stake in shares of Orchestra BioMed in the 1st quarter worth about $117,000. Barclays PLC increased its position in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares in the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in Orchestra BioMed during the 2nd quarter valued at about $163,000. 53.55% of the stock is owned by institutional investors and hedge funds.

About Orchestra BioMed

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.