Orchestra BioMed (NASDAQ:OBIO) Given “Buy” Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Orchestra BioMed (NASDAQ:OBIO) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $20.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. Barclays boosted their target price on shares of Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, January 9th. TD Cowen began coverage on shares of Orchestra BioMed in a research note on Wednesday, December 10th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Orchestra BioMed has a consensus rating of “Moderate Buy” and an average price target of $13.80.

Orchestra BioMed Stock Performance

Orchestra BioMed stock opened at $4.38 on Thursday. Orchestra BioMed has a fifty-two week low of $2.20 and a fifty-two week high of $5.42. The stock’s 50 day simple moving average is $4.19 and its two-hundred day simple moving average is $3.83. 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 stock has a market cap of $247.34 million, a price-to-earnings ratio of -2.41 and a beta of 0.56.

Institutional Investors Weigh In On Orchestra BioMed

A number of institutional investors have recently made changes to their positions in the company. AMH Equity Ltd purchased a new stake in shares of Orchestra BioMed during the third quarter valued at $412,000. Catalyst Funds Management Pty Ltd purchased a new position in Orchestra BioMed in the 2nd quarter worth about $31,000. Knott David M Jr purchased a new position in Orchestra BioMed in the 2nd quarter worth about $268,000. Qube Research & Technologies Ltd bought a new position in Orchestra BioMed during the 3rd quarter valued at about $64,000. Finally, Bank of America Corp DE boosted its holdings in shares of Orchestra BioMed by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 21,577 shares of the company’s stock valued at $58,000 after acquiring an additional 5,678 shares during the last quarter. Hedge funds and other institutional investors own 53.20% of the company’s stock.

Orchestra BioMed Company Profile

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.