OptiNose (NASDAQ:OPTN) Earns Neutral Rating from Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a research note issued to investors on Friday,Benzinga reports. Piper Sandler currently has a $9.00 price objective on the stock, down from their prior price objective of $15.00.

A number of other analysts also recently weighed in on OPTN. HC Wainwright restated a “neutral” rating and issued a $9.00 price objective (down from $18.00) on shares of OptiNose in a report on Friday. Lake Street Capital cut OptiNose from a “buy” rating to a “hold” rating and decreased their price target for the company from $17.00 to $9.00 in a research note on Thursday.

OptiNose Stock Performance

Shares of NASDAQ OPTN opened at $9.15 on Friday. The firm has a 50 day moving average price of $5.96 and a two-hundred day moving average price of $8.08. The stock has a market cap of $92.05 million, a P/E ratio of -2.18 and a beta of -0.30. OptiNose has a 52-week low of $4.82 and a 52-week high of $24.60.

Insider Activity

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s 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 transaction, the chief executive officer now owns 126,931 shares in the company, valued at $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 8,213 shares of company stock valued at $43,643. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OptiNose

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of OptiNose by 14.2% during the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after buying an additional 42,500 shares in the last quarter. GSA Capital Partners LLP bought a new position in OptiNose during the third quarter worth $61,000. Massachusetts Financial Services Co. MA boosted its stake in OptiNose by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after acquiring an additional 155,329 shares in the last quarter. Geode Capital Management LLC grew its holdings in OptiNose by 33.7% in the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock worth $870,000 after purchasing an additional 326,918 shares during the period. Finally, Acorn Capital Advisors LLC bought a new stake in OptiNose in the fourth quarter valued at $2,824,000. 85.60% of the stock is currently owned by 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.