Orchestra BioMed (NASDAQ:OBIO) Stock Price Target Raised at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO) had its price objective upped by investment analysts at HC Wainwright from $10.00 to $12.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s price target would indicate a potential upside of 80.05% from the company’s current price.

OBIO has been the topic of a number of other research reports. BTIG Research lifted their price objective on shares of Orchestra BioMed from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating on shares of Orchestra BioMed in a research report on Thursday, October 15th. Chardan Capital restated a “buy” rating and issued a $20.00 target price on shares of Orchestra BioMed in a research note on Friday, October 23rd. Weiss Ratings raised shares of Orchestra BioMed from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. Finally, B. Riley Financial upped their price target on Orchestra BioMed from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Tuesday, September 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.29.

Orchestra BioMed Stock Up 8.4%

OBIO traded up $0.52 on Friday, hitting $6.67. The company had a trading volume of 402,594 shares, compared to its average volume of 294,506. The stock has a fifty day moving average price of $5.81 and a 200-day moving average price of $4.61. Orchestra BioMed has a 12-month low of $3.46 and a 12-month high of $6.57. The company has a debt-to-equity ratio of 4.58, a quick ratio of 8.24 and a current ratio of 7.25. The stock has a market capitalization of $409.56 million, a price-to-earnings ratio of -8.89 and a beta of 0.56.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.13 million. Orchestra BioMed had a negative net margin of 182.50% and a negative return on equity of 186.93%. Analysts predict that Orchestra BioMed will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider David Hochman purchased 10,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were purchased at an average price of $4.79 per share, with a total value of $47,900.00. Following the transaction, the insider owned 1,070,746 shares in the company, valued at $5,128,873.34. The trade was a 0.94% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Pacitti acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average cost of $5.00 per share, with a total value of $100,000.00. Following the acquisition, the director directly owned 74,750 shares of the company’s stock, valued at $373,750. This trade represents a 36.53% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 58,000 shares of company stock worth $288,560 and have sold 45,000 shares worth $255,600. Company insiders own 7.50% of the company’s stock.

Institutional Trading of Orchestra BioMed

Several institutional investors have recently modified their holdings of OBIO. BlackRock Inc. acquired a new position in shares of Orchestra BioMed in the 2nd quarter valued at $10,832,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Orchestra BioMed in the second quarter valued at $2,771,000. Rice Hall James & Associates LLC purchased a new stake in Orchestra BioMed in the second quarter valued at $1,830,000. Flat Footed LLC purchased a new stake in Orchestra BioMed in the second quarter valued at $1,084,670. Finally, Knott David M Jr boosted its stake in Orchestra BioMed by 1.5% in the first quarter. Knott David M Jr now owns 253,651 shares of the company’s stock valued at $1,078,000 after acquiring an additional 3,651 shares in the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.

About Orchestra BioMed

Orchestra BioMed is a medical technology company that develops therapies for cardiovascular and other diseases, often in collaboration with established medical-device companies. Its work focuses on technologies intended to integrate with existing treatment approaches and devices. The company’s lead program, AVIM therapy, is designed to lower blood pressure in people with pacemakers by adjusting the timing of cardiac pacing. Orchestra BioMed is also developing Virtue SAB, a drug-delivery balloon intended to treat coronary artery disease by delivering sirolimus to blood vessels.