OptiNose (NASDAQ:OPTN) Given Neutral Rating at HC Wainwright

OptiNose (NASDAQ:OPTN)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $9.00 price objective on the stock, down from their prior price objective of $18.00. HC Wainwright’s price target would suggest a potential downside of 1.64% from the stock’s current price.

Separately, Lake Street Capital downgraded shares of OptiNose from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $17.00 to $9.00 in a research note on Thursday.

OptiNose Stock Performance

Shares of NASDAQ OPTN opened at $9.15 on Friday. The firm 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 $24.60. The stock has a 50 day moving average price of $5.96 and a 200 day moving average price of $8.13.

Insider Transactions at OptiNose

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the company’s 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 of the company’s stock, valued at $671,464.99. This represents a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 8,213 shares of company stock valued at $43,643. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On OptiNose

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new position in shares of OptiNose in the 3rd quarter valued at $61,000. State Street Corp increased its position in shares of 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 acquiring an additional 42,500 shares during the period. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 326,918 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of 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 acquiring an additional 155,329 shares during the period. Finally, Acorn Capital Advisors LLC purchased a new stake in OptiNose in the fourth quarter valued at $2,824,000. 85.60% of the stock is owned by institutional investors and hedge funds.

OptiNose Company Profile

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.