Orchestra BioMed (NASDAQ:OBIO) Receives “Buy” Rating from Chardan Capital

Orchestra BioMed (NASDAQ:OBIO)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued on Thursday,Benzinga reports. They presently have a $20.00 price objective on the stock. Chardan Capital’s target price points to a potential upside of 356.62% from the company’s previous close.

OBIO has been the topic of a number of other research reports. Barclays upped their target price on Orchestra BioMed from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, January 9th. TD Cowen started coverage on shares of Orchestra BioMed in a research note on Wednesday, December 10th. They issued a “buy” rating on the stock. One 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 issued a Sell rating to the stock. Based on data from MarketBeat, Orchestra BioMed currently has a consensus rating of “Moderate Buy” and an average target price of $13.80.

Orchestra BioMed Trading Down 4.8%

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Orchestra BioMed in the 2nd quarter valued at $31,000. China Universal Asset Management Co. Ltd. bought a new position in Orchestra BioMed during the fourth quarter valued at about $38,000. Creative Planning acquired a new stake in shares of Orchestra BioMed in the second quarter worth about $40,000. XTX Topco Ltd bought a new stake in shares of Orchestra BioMed during the 2nd quarter worth about $45,000. Finally, Jane Street Group LLC acquired a new position in shares of Orchestra BioMed during the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 53.20% of the company’s stock.

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.