OptiNose’s (OPTN) Neutral Rating Reiterated at Piper Sandler

Piper Sandler restated their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a report issued on Friday,Benzinga reports. Piper Sandler currently has a $9.00 price objective on the stock, down from their prior price objective of $15.00.

OPTN has been the topic of a number of other research reports. HC Wainwright reissued a “neutral” rating and set a $9.00 price target (down previously from $18.00) on shares of OptiNose in a research report on Friday. Lake Street Capital downgraded OptiNose from a “buy” rating to a “hold” rating and cut their target price for the company from $17.00 to $9.00 in a research report on Thursday.

OptiNose Price Performance

Shares of NASDAQ:OPTN opened at $9.15 on Friday. OptiNose has a 12-month low of $4.82 and a 12-month high of $24.60. The company’s 50 day moving average price is $5.96 and its two-hundred day moving average price is $8.08. The firm has a market cap of $92.05 million, a PE ratio of -2.18 and a beta of -0.30.

Insider Activity at OptiNose

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose 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 owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 8,213 shares of company stock valued at $43,643 over the last three months. 2.30% of the stock is owned by insiders.

Institutional Trading of OptiNose

Several large investors have recently bought and sold shares of OPTN. GSA Capital Partners LLP bought a new position in shares of OptiNose in the third quarter worth about $61,000. Massachusetts Financial Services Co. MA increased its position in OptiNose by 5.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after purchasing an additional 155,329 shares in the last quarter. FMR LLC lifted its stake in OptiNose by 3.2% in the 3rd 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 during the last quarter. Stonepine Capital Management LLC boosted its position in 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 buying an additional 3,338,580 shares in the last quarter. Finally, State Street Corp boosted its position in OptiNose by 14.2% in 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 in the last quarter. 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.