By Josh Beckerman
Shares of medical technology company Orchestra BioMed Holdings surged 49% to $5.98 after Barclays initiated coverage with an overweight rating and $16 price target.
Volume was more than 652,000 shares, compared with a 65-day average of 58,740. The stock is down about 27% over the last 52 weeks.
Orchestra BioMed's lead product candidate is atrioventricular interval modulation therapy, also known as BackBeat Cardiac Neuromodulation Therapy CNT, a bioelectronic therapy for treatment of hypertension.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
January 02, 2025 12:40 ET (17:40 GMT)
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