BTIG Research Begins Coverage on Orchestra BioMed (NASDAQ:OBIO)

Equities researchers at BTIG Research assumed coverage on shares of Orchestra BioMed (NASDAQ:OBIO) in a report issued on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $12.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 170.88% from the stock’s current price.

Other analysts also recently issued research reports about the company. Barclays assumed coverage on Orchestra BioMed in a research note on Thursday, January 2nd. They issued an “overweight” rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of Orchestra BioMed in a research note on Monday, March 10th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Orchestra BioMed currently has a consensus rating of “Buy” and a consensus target price of $15.40.

Orchestra BioMed Price Performance

NASDAQ OBIO opened at $4.43 on Thursday. The company has a fifty day moving average of $5.03 and a 200 day moving average of $5.24. The company has a market capitalization of $168.40 million, a PE ratio of -2.75 and a beta of 0.59. Orchestra BioMed has a 1 year low of $3.75 and a 1 year high of $8.87.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OBIO. Charles Schwab Investment Management Inc. increased its holdings in Orchestra BioMed by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 217,008 shares of the company’s stock worth $1,115,000 after acquiring an additional 8,107 shares in the last quarter. RTW Investments LP grew its position in shares of Orchestra BioMed by 46.0% in the third quarter. RTW Investments LP now owns 8,206,159 shares of the company’s stock valued at $42,180,000 after purchasing an additional 2,585,519 shares during the period. State Street Corp increased its stake in shares of Orchestra BioMed by 12.4% during the third 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. Barclays PLC raised its position 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 during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Orchestra BioMed by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 567,219 shares of the company’s stock valued at $2,916,000 after buying an additional 11,002 shares in the last quarter. Hedge funds and other 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 (HTN); and Virtue Sirolimus AngioInfusion Balloon (SAB) for the treatment of atherosclerotic artery disease.