Piper Sandler Reiterates Neutral Rating for OptiNose (NASDAQ:OPTN)

OptiNose (NASDAQ:OPTN)‘s stock had its “neutral” rating restated by equities research analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $9.00 target price on the stock, down from their previous target price of $15.00. Piper Sandler’s price target suggests a potential downside of 1.32% from the company’s current price.

Several other research firms also recently weighed in on OPTN. HC Wainwright reiterated a “neutral” rating and issued a $9.00 price target (down from $18.00) on shares of OptiNose in a research report on Friday. Lake Street Capital cut 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 Down 0.3 %

OPTN traded down $0.03 during trading on Friday, hitting $9.12. The company’s stock had a trading volume of 194,837 shares, compared to its average volume of 59,965. OptiNose has a one year low of $4.82 and a one year high of $25.80. The firm has a market cap of $91.75 million, a PE ratio of -2.17 and a beta of -0.30. The business’s 50 day simple moving average is $5.88 and its 200-day simple moving average is $8.22.

Insider Transactions at OptiNose

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 8,213 shares of company stock valued at $43,643 over the last three months. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On OptiNose

Several institutional investors have recently bought and sold shares of the stock. Acorn Capital Advisors LLC purchased a new position in OptiNose during the fourth quarter valued at $2,824,000. Geode Capital Management LLC grew its stake in 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 acquiring an additional 326,918 shares in the last quarter. State Street Corp grew its stake in 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 acquiring an additional 42,500 shares in the last quarter. Stonepine Capital Management LLC grew its stake in OptiNose by 142.1% during the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,338,580 shares in the last quarter. Finally, FMR LLC grew 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 acquiring an additional 518,610 shares in the last quarter. 85.60% of the stock is owned by hedge funds and other 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.