HC Wainwright Reiterates Neutral Rating for OptiNose (NASDAQ:OPTN)

HC Wainwright reaffirmed their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a research note published on Friday, Marketbeat Ratings reports. HC Wainwright currently has a $9.00 target price on the stock, down from their prior target price of $18.00.

Separately, Lake Street Capital cut 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 Price Performance

Shares of OPTN opened at $9.15 on Friday. The business’s fifty day moving average price is $5.96 and its 200 day moving average price is $8.08. OptiNose has a 12-month low of $4.82 and a 12-month high of $24.60. The stock has a market capitalization of $92.05 million, a PE ratio of -2.18 and a beta of -0.30.

Insider Buying and Selling at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total value of $33,729.04. Following the sale, the chief executive officer now directly owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 8,213 shares of company stock worth $43,643. 2.30% of the stock is owned by insiders.

Institutional Investors Weigh In On OptiNose

A number of hedge funds have recently added to or reduced their stakes in the stock. Acorn Capital Advisors LLC bought a new stake in OptiNose in the fourth quarter valued at $2,824,000. Geode Capital Management LLC lifted its stake in OptiNose by 33.7% in the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after buying an additional 326,918 shares during the last quarter. State Street Corp lifted its stake in OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after buying an additional 42,500 shares during the last quarter. Stonepine Capital Management LLC raised its stake in shares of 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 purchasing an additional 3,338,580 shares in the last quarter. Finally, FMR LLC raised its stake in shares of 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. 85.60% of the stock is currently owned by institutional investors.

OptiNose Company Profile

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.