OptiNose (NASDAQ:OPTN) Sees Unusually-High Trading Volume – Here’s Why

OptiNose, Inc. (NASDAQ:OPTN) shares saw unusually-high trading volume on Tuesday . Approximately 53,015 shares traded hands during mid-day trading, an increase of 2% from the previous session’s volume of 51,968 shares.The stock last traded at $6.75 and had previously closed at $6.20.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on OPTN. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of OptiNose in a research note on Wednesday, November 13th. Piper Sandler lowered their price target on OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th.

OptiNose Stock Up 3.6 %

The stock has a market capitalization of $968.32 million, a price-to-earnings ratio of -22.93 and a beta of -0.17. The company’s fifty day simple moving average is $0.55 and its 200 day simple moving average is $0.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OPTN. Massachusetts Financial Services Co. MA boosted 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 worth $3,037,000 after acquiring an additional 81,233 shares during the period. XTX Topco Ltd acquired a new stake in OptiNose during the 2nd quarter worth approximately $88,000. Great Point Partners LLC boosted its stake in OptiNose by 56.2% in the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after purchasing an additional 4,940,779 shares during the period. Squarepoint Ops LLC grew its holdings in OptiNose by 173.7% in the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after buying an additional 108,903 shares in the last quarter. Finally, Nantahala Capital Management LLC increased its position in OptiNose by 442.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock worth $14,425,000 after buying an additional 10,944,444 shares during the period. Institutional investors and hedge funds 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.