OptiNose (NASDAQ:OPTN) Rating Lowered to Hold at Piper Sandler

OptiNose (NASDAQ:OPTN) was downgraded by investment analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms have also recently issued reports on OPTN. HC Wainwright restated a “neutral” rating and set a $9.00 price target (down from $18.00) on shares of OptiNose in a report on Friday. Lake Street Capital cut OptiNose from a “buy” rating to a “hold” rating and cut their price target for the stock from $17.00 to $9.00 in a report on Thursday.

OptiNose Stock Performance

OptiNose stock opened at $9.15 on Thursday. The stock has a market capitalization of $92.05 million, a price-to-earnings ratio of -2.18 and a beta of -0.30. OptiNose has a 52-week low of $4.82 and a 52-week high of $25.20. The stock’s 50 day moving average price is $5.96 and its two-hundred day moving average price is $8.17.

Insider Buying and Selling

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total value of $33,729.04. Following the transaction, the chief executive officer now directly owns 126,931 shares in the company, valued at $671,464.99. This trade represents a 4.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 8,213 shares of company stock worth $43,643 in the last ninety days. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On OptiNose

Large investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of OptiNose in the 3rd quarter worth $61,000. State Street Corp lifted its holdings in shares of OptiNose by 14.2% in the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after purchasing an additional 42,500 shares in the last quarter. Acorn Capital Advisors LLC bought a new position in shares of OptiNose in the 4th quarter worth $2,824,000. Geode Capital Management LLC raised its position in OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after buying an additional 326,918 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in OptiNose by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after buying an additional 155,329 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors.

About OptiNose

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.