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

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a report released on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock. Chardan Capital’s target price indicates a potential upside of 356.62% from the company’s current price.

OBIO has been the subject of a number of other research reports. TD Cowen began coverage on shares of Orchestra BioMed in a research report on Wednesday, December 10th. They set a “buy” rating for the company. Barclays boosted their price objective on Orchestra BioMed from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Orchestra BioMed presently has an average rating of “Moderate Buy” and a consensus price target of $13.80.

Orchestra BioMed Stock Performance

Shares of Orchestra BioMed stock traded down $0.22 on Thursday, reaching $4.38. The stock had a trading volume of 264,235 shares, compared to its average volume of 211,403. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.72 and a current ratio of 4.73. The business’s 50-day moving average price is $4.19 and its two-hundred day moving average price is $3.83. The stock has a market cap of $247.32 million, a P/E ratio of -2.41 and a beta of 0.56. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $5.42.

Institutional Investors Weigh In On Orchestra BioMed

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Orchestra BioMed by 28.0% during the third quarter. Vanguard Group Inc. now owns 1,481,875 shares of the company’s stock valued at $3,675,000 after acquiring an additional 324,558 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Orchestra BioMed during the 3rd quarter worth approximately $3,386,000. Pathstone Holdings LLC acquired a new stake in shares of Orchestra BioMed during the 3rd quarter worth approximately $2,495,000. Geode Capital Management LLC increased its position in shares of Orchestra BioMed by 22.4% during the fourth quarter. Geode Capital Management LLC now owns 473,363 shares of the company’s stock valued at $1,965,000 after purchasing an additional 86,564 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Orchestra BioMed by 46.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 263,788 shares of the company’s stock valued at $1,095,000 after purchasing an additional 83,349 shares in the last quarter. 53.20% of the stock is owned by institutional investors and hedge funds.

About Orchestra BioMed

Orchestra BioMed, Inc (NASDAQ: OBIO) is a clinical‐stage biopharmaceutical company dedicated to developing targeted therapies for inflammatory, fibrotic and oncologic diseases. The company’s research focuses on novel small-molecule programs designed to address high‐unmet-need conditions by leveraging proprietary prodrug and targeted inhibitor platforms. Orchestra BioMed’s pipeline includes lead candidates such as OBI-3424, a prodrug activated by AKR1C3 for the treatment of select solid tumors, and next-generation modulators aimed at suppressing pathological inflammation and fibrosis.

Orchestra BioMed conducts early‐ and mid-stage clinical studies in North America, working closely with key opinion leaders and academic centers to advance its programs.