Orchestra BioMed’s (OBIO) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $14.00 price target on the stock.

OBIO has been the topic of several other research reports. Chardan Capital reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Orchestra BioMed in a research report on Wednesday, November 13th. Barclays assumed coverage on shares of Orchestra BioMed in a research report on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock.

Orchestra BioMed Price Performance

OBIO opened at $4.02 on Monday. The company’s 50-day moving average is $5.17 and its 200 day moving average is $5.33. Orchestra BioMed has a fifty-two week low of $3.75 and a fifty-two week high of $8.87. The firm has a market capitalization of $152.82 million, a P/E ratio of -2.50 and a beta of 0.59.

Hedge Funds Weigh In On Orchestra BioMed

Several large investors have recently modified their holdings of OBIO. SG Americas Securities LLC increased its stake in shares of Orchestra BioMed by 26.0% in the fourth 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 shares of Orchestra BioMed by 43.6% in the fourth 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 purchased a new position in shares of Orchestra BioMed in the fourth quarter worth about $86,000. Bank of America Corp DE increased its stake in shares of Orchestra BioMed by 42.0% in the fourth 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 shares of Orchestra BioMed by 11.1% in the fourth 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. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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.