OptiNose (NASDAQ:OPTN) Sees Unusually-High Trading Volume – What’s Next?

OptiNose, Inc. (NASDAQ:OPTN) saw unusually-high trading volume on Tuesday . Approximately 53,015 shares traded hands during trading, an increase of 2% from the previous session’s volume of 51,968 shares.The stock last traded at $6.75 and had previously closed at $6.20.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OPTN shares. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of OptiNose in a research report on Wednesday, November 13th. Piper Sandler cut their price target on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th.

OptiNose Price Performance

The firm has a fifty day simple moving average of $8.01 and a two-hundred day simple moving average of $11.97. The firm has a market capitalization of $1.01 billion, a P/E ratio of -23.86 and a beta of -0.16.

Institutional Investors Weigh In On OptiNose

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC increased its stake in shares of OptiNose by 442.3% in the second 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 raised its holdings in OptiNose by 56.2% during the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after acquiring an additional 4,940,779 shares during the period. Stonepine Capital Management LLC lifted its position in shares of OptiNose by 142.1% during the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after acquiring an additional 3,338,580 shares in the last quarter. Rosalind Advisors Inc. boosted its holdings in shares of OptiNose by 9.8% in the third quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock worth $5,553,000 after acquiring an additional 740,355 shares during the period. Finally, FMR LLC grew its position in shares of OptiNose by 3.2% in the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after purchasing an additional 518,610 shares in 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.