OptiNose Shares 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 Price Performance

Shares of OPTN stock opened at $0.42 on Friday. The stock has a market capitalization of $63.35 million, a price-to-earnings ratio of -1.50 and a beta of -0.16. The company’s fifty day simple moving average is $0.57 and its two-hundred day simple moving average is $0.83. OptiNose has a 1 year low of $0.32 and a 1 year high of $2.10.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OPTN. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of OptiNose in a report on Wednesday, November 13th. Piper Sandler lowered their price target on shares of OptiNose from $3.00 to $1.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th.

Institutional Investors Weigh In On OptiNose

A number of institutional investors and hedge funds have recently made changes to their positions in OPTN. XTX Topco Ltd purchased a new stake in shares of OptiNose during the 2nd quarter valued at $88,000. GSA Capital Partners LLP bought a new position in OptiNose in the third quarter valued at $61,000. Squarepoint Ops LLC raised its position in OptiNose by 173.7% during the second quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after purchasing an additional 108,903 shares in the last quarter. State Street Corp raised its position 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 purchasing an additional 42,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its stake in OptiNose by 15.4% during the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock worth $764,000 after purchasing an additional 152,435 shares during the last quarter. Hedge funds and other 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.