OptiNose (NASDAQ:OPTN) Shares to Reverse Split on Tuesday, December 31st

Shares of OptiNose, Inc. (NASDAQ:OPTN) are scheduled to reverse split on the morning of Tuesday, December 31st. The 1-15 reverse split was announced on Thursday, December 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

OptiNose Stock Up 10.3 %

OPTN stock opened at $0.42 on Friday. The stock has a market capitalization of $63.35 million, a P/E ratio of -1.50 and a beta of -0.16. OptiNose has a 52 week low of $0.32 and a 52 week high of $2.10. The firm has a 50-day simple moving average of $0.57 and a 200-day simple moving average of $0.83.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OPTN shares. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of OptiNose in a research note on Wednesday, November 13th. Piper Sandler dropped their price target on OptiNose from $3.00 to $1.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On OptiNose

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC lifted its stake in OptiNose by 442.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock worth $14,425,000 after purchasing an additional 10,944,444 shares in the last quarter. Great Point Partners LLC increased its holdings in shares of OptiNose by 56.2% in the second quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after purchasing an additional 4,940,779 shares during the last quarter. Stonepine Capital Management LLC increased its holdings in shares of OptiNose by 142.1% in the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,338,580 shares during the last quarter. Rosalind Advisors Inc. lifted its position in OptiNose by 9.8% during the third quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock worth $5,553,000 after buying an additional 740,355 shares in the last quarter. Finally, FMR LLC boosted its stake in OptiNose by 3.2% during the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after buying an additional 518,610 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors and hedge funds.

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.