OptiNose (NASDAQ:OPTN) Downgraded by Lake Street Capital to Hold

Lake Street Capital lowered shares of OptiNose (NASDAQ:OPTN) from a buy rating to a hold rating in a report issued on Thursday, Marketbeat reports. They currently have $9.00 price objective on the stock, down from their prior price objective of $17.00.

Separately, HC Wainwright boosted their price objective on shares of OptiNose from $5.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 3rd.

OptiNose Price Performance

OptiNose stock opened at $9.15 on Thursday. The company has a market capitalization of $92.05 million, a PE ratio of -2.18 and a beta of -0.30. The firm has a fifty day simple moving average of $5.96 and a two-hundred day simple moving average of $8.13. OptiNose has a twelve month low of $4.82 and a twelve month high of $24.60.

Insider Buying and Selling at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the transaction, the chief executive officer now owns 126,931 shares in the company, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 8,213 shares of company stock worth $43,643. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OptiNose

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of OptiNose during the third quarter valued at about $61,000. State Street Corp increased its position in shares of OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after buying an additional 42,500 shares during the period. Geode Capital Management LLC increased its position in shares of OptiNose by 33.7% during the third 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 period. Massachusetts Financial Services Co. MA increased its position in shares of OptiNose by 5.3% during the third 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 period. Finally, Acorn Capital Advisors LLC purchased a new position in shares of OptiNose during the fourth quarter valued at about $2,824,000. Hedge funds and other institutional investors own 85.60% of the company’s stock.

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.