Orchestra BioMed’s (OBIO) Buy Rating Reaffirmed at Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reaffirmed by equities researchers at Chardan Capital in a research note issued on Thursday, Benzinga reports. They presently have a $20.00 target price on the stock. Chardan Capital’s target price would suggest a potential upside of 277.00% from the stock’s current price.

Separately, Jefferies Financial Group initiated coverage on Orchestra BioMed in a research note on Friday, January 19th. They set a “buy” rating and a $14.00 target price on the stock.

Orchestra BioMed Trading Up 0.9 %

Shares of OBIO stock opened at $5.31 on Thursday. Orchestra BioMed has a 1-year low of $4.26 and a 1-year high of $23.39. The stock’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $6.94.

Institutional Trading of Orchestra BioMed

Several large investors have recently made changes to their positions in OBIO. UMB Bank n.a. bought a new stake in Orchestra BioMed during the third quarter worth approximately $28,000. Harbour Investments Inc. bought a new position in shares of Orchestra BioMed in the third quarter valued at about $31,000. Allspring Global Investments Holdings LLC bought a new position in shares of Orchestra BioMed in the third quarter worth about $43,000. Barclays PLC bought a new position in Orchestra BioMed in the 1st quarter valued at $136,000. Finally, Rhumbline Advisers increased its position in Orchestra BioMed by 137.9% in the third quarter. Rhumbline Advisers now owns 7,554 shares of the company’s stock worth $66,000 after purchasing an additional 4,379 shares during the period. 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; and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.