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

Shares of OptiNose, Inc. (NASDAQ:OPTN) are going to reverse split 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 Stock Performance

OPTN stock opened at $0.42 on Friday. The firm has a market cap of $63.35 million, a P/E ratio of -1.50 and a beta of -0.16. The firm’s fifty day moving average is $0.57 and its 200 day moving average is $0.83. OptiNose has a 52 week low of $0.32 and a 52 week high of $2.10.

Wall Street Analysts Forecast Growth

OPTN has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of OptiNose in a research note on Wednesday, November 13th. Piper Sandler dropped their price objective on OptiNose from $3.00 to $1.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of OptiNose by 2.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock valued at $3,037,000 after purchasing an additional 81,233 shares in the last quarter. XTX Topco Ltd bought a new position in OptiNose during the 2nd quarter valued at about $88,000. Great Point Partners LLC lifted its stake 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. Squarepoint Ops LLC boosted its holdings in shares of OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after acquiring an additional 108,903 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its holdings in shares of OptiNose by 442.3% during the second quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock valued at $14,425,000 after purchasing an additional 10,944,444 shares during the last quarter. 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.