Orchestra BioMed (NASDAQ:OBIO) Shares Up 5.1% – Still a Buy?

Shares of Orchestra BioMed Holdings, Inc. (NASDAQ:OBIO) shot up 5.1% on Thursday . The stock traded as high as $5.67 and last traded at $5.60. 35,693 shares were traded during trading, a decline of 73% from the average session volume of 132,151 shares. The stock had previously closed at $5.33.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OBIO. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of Orchestra BioMed in a research note on Friday, November 15th. Barclays began coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They set an “overweight” rating and a $16.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and set a $20.00 target price on shares of Orchestra BioMed in a research note on Wednesday, November 13th.

Orchestra BioMed Trading Up 1.3 %

The firm has a market cap of $215.52 million, a price-to-earnings ratio of -3.52 and a beta of 0.57. The stock has a 50-day moving average of $5.24 and a two-hundred day moving average of $5.55.

Orchestra BioMed (NASDAQ:OBIO) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.03. Orchestra BioMed had a negative return on equity of 107.04% and a negative net margin of 2,179.33%. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.81 million. Sell-side analysts expect that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Orchestra BioMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in Orchestra BioMed by 26.0% in the 4th quarter. SG Americas Securities LLC now owns 12,785 shares of the company’s stock worth $51,000 after acquiring an additional 2,642 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Orchestra BioMed by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,082 shares of the company’s stock worth $343,000 after acquiring an additional 3,245 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Orchestra BioMed by 11.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 37,009 shares of the company’s stock worth $148,000 after acquiring an additional 3,704 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Orchestra BioMed by 43.6% in the 4th quarter. Wells Fargo & Company MN now owns 13,156 shares of the company’s stock worth $53,000 after acquiring an additional 3,992 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Orchestra BioMed by 0.9% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.

Orchestra BioMed Company Profile

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.