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

OptiNose, Inc. (NASDAQ:OPTN)’s stock is set to reverse split before the market opens on 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 market closes on Monday, December 30th.

OptiNose Price Performance

OptiNose stock opened at $0.42 on Friday. OptiNose has a 1 year low of $0.32 and a 1 year high of $2.10. The firm’s 50 day moving average price is $0.57 and its 200-day moving average price is $0.83. The stock has a market cap of $63.35 million, a P/E ratio of -1.50 and a beta of -0.16.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in OptiNose by 3.2% during 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. Great Point Partners LLC increased its holdings in shares of OptiNose by 56.2% in the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock worth $14,276,000 after buying an additional 4,940,779 shares during the last quarter. Nantahala Capital Management LLC raised its position in shares of OptiNose by 442.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock valued at $14,425,000 after buying an additional 10,944,444 shares in the last quarter. Rosalind Advisors Inc. lifted its holdings in shares of OptiNose by 9.8% in the 3rd quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock valued at $5,553,000 after acquiring an additional 740,355 shares during the last quarter. Finally, Stonepine Capital Management LLC grew 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 worth $3,811,000 after acquiring an additional 3,338,580 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.