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

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $20.00 price target on shares of Orchestra BioMed in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of Orchestra BioMed in a research note on Friday, November 15th. Finally, Barclays started 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.

Orchestra BioMed Stock Performance

The stock has a 50 day moving average of $5.24 and a two-hundred day moving average of $5.55. The firm has a market capitalization of $215.52 million, a P/E ratio of -3.52 and a beta of 0.57.

Orchestra BioMed (NASDAQ:OBIO) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $0.81 million. Sell-side analysts predict that Orchestra BioMed Holdings, Inc. will post -1.66 EPS for the current year.

Institutional Trading of Orchestra BioMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OBIO. RTW Investments LP grew its holdings in Orchestra BioMed by 46.0% in the 3rd quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after buying an additional 2,585,519 shares during the last quarter. Boxer Capital Management LLC acquired a new stake in shares of Orchestra BioMed during the 4th quarter worth approximately $953,000. State Street Corp grew its holdings in shares of Orchestra BioMed by 12.4% during the 3rd quarter. State Street Corp now owns 429,613 shares of the company’s stock worth $2,208,000 after purchasing an additional 47,308 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Orchestra BioMed by 354.5% during the 4th quarter. JPMorgan Chase & Co. now owns 49,405 shares of the company’s stock worth $198,000 after purchasing an additional 38,535 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Orchestra BioMed by 281.3% during the 3rd quarter. Barclays PLC now owns 31,785 shares of the company’s stock worth $163,000 after purchasing an additional 23,448 shares in the last quarter. Institutional investors and hedge funds 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 (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.