OptiNose, Inc. (NASDAQ:OPTN) Short Interest Down 29.5% in March

by · The Cerbat Gem

OptiNose, Inc. (NASDAQ:OPTN – Get Free Report) saw a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 191,700 shares, a decline of 29.5% from the March 15th total of 271,800 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 93,100 shares, the short-interest ratio is currently 2.1 days.

OptiNose Stock Performance

OPTN stock traded up $0.01 during midday trading on Friday, reaching $9.17. 19,070 shares of the company’s stock traded hands, compared to its average volume of 68,756. The firm has a market capitalization of $92.36 million, a PE ratio of -2.18 and a beta of -0.87. The company has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $7.69. OptiNose has a 52 week low of $4.82 and a 52 week high of $20.03.

OptiNose (NASDAQ:OPTN – Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.67. The company had revenue of $21.47 million for the quarter, compared to the consensus estimate of $21.02 million. As a group, analysts predict that OptiNose will post -3.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OPTN has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating and set a $9.00 price target (down previously from $15.00) on shares of OptiNose in a research note on Friday, March 21st. Lake Street Capital cut OptiNose from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $9.00 in a research report on Thursday, March 20th. Finally, HC Wainwright reissued a “neutral” rating and issued a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a report on Friday, March 21st.

View Our Latest Research Report on OptiNose

Insider Activity at OptiNose

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the completion of the sale, the chief executive officer now owns 126,931 shares in the company, valued at $671,464.99. This represents a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 8,213 shares of company stock valued at $43,643 over the last 90 days. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On OptiNose

A number of institutional investors and hedge funds have recently modified their holdings of OPTN. FNY Investment Advisers LLC purchased a new position in OptiNose during the first quarter valued at approximately $40,000. State Street Corp boosted its holdings in OptiNose by 14.2% in the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after purchasing an additional 42,500 shares during the period. Geode Capital Management LLC grew its position in shares of OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after purchasing an additional 326,918 shares in the last quarter. Finally, Acorn Capital Advisors LLC bought a new position in shares of OptiNose in the fourth quarter worth $2,824,000. 85.60% of the stock is owned by hedge funds and other institutional investors.

About OptiNose

(Get Free Report)

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, throat, and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary exhalation delivery system (EDS) that delivers a topically acting corticosteroid for the treatment of chronic rhinosinusitis with nasal polyps, as well as is in Phase IIIb clinical trial for treatment of chronic sinusitis; and Onzetra Xsail, a powder EDS device.

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