Orchestra BioMed (NASDAQ:OBIO) Given New $12.00 Price Target at HC Wainwright

Orchestra BioMed (NASDAQ:OBIO) had its price objective decreased by analysts at HC Wainwright from $14.00 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 objective suggests a potential upside of 334.78% from the company’s current price.

Several other equities research analysts have also issued reports on OBIO. BTIG Research assumed coverage on Orchestra BioMed in a report on Thursday, March 20th. They set a “buy” rating and a $12.00 price target for the company. Chardan Capital restated a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a report on Tuesday, April 1st. Finally, Barclays assumed coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.00.

Orchestra BioMed Trading Down 11.3 %

Shares of NASDAQ OBIO opened at $2.76 on Friday. Orchestra BioMed has a one year low of $2.65 and a one year high of $8.87. The business has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $5.10. The firm has a market capitalization of $104.92 million, a PE ratio of -1.71 and a beta of 0.62.

Orchestra BioMed (NASDAQ:OBIO) last posted its quarterly earnings results on Monday, March 31st. The company reported ($0.43) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.43). The business had revenue of $0.25 million for the quarter, compared to the consensus estimate of $0.79 million. Orchestra BioMed had a negative net margin of 2,179.33% and a negative return on equity of 107.04%. Research analysts anticipate that Orchestra BioMed will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Orchestra BioMed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC lifted its position in shares of 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 during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Orchestra BioMed by 11.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after buying an additional 3,704 shares during the last quarter. Wells Fargo & Company MN boosted its position 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 valued at $53,000 after acquiring an additional 3,992 shares during the period. Geode Capital Management LLC grew its stake in shares of Orchestra BioMed by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 572,441 shares of the company’s stock worth $2,290,000 after acquiring an additional 5,222 shares during the last quarter. Finally, Northern Trust Corp increased its position in Orchestra BioMed by 2.5% during the fourth quarter. Northern Trust Corp now owns 236,761 shares of the company’s stock worth $947,000 after acquiring an additional 5,725 shares during the period. 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.