Palumbo Wealth Management LLC Invests $33,000 in OptiNose, Inc. (NASDAQ:OPTN)

Palumbo Wealth Management LLC bought a new position in shares of OptiNose, Inc. (NASDAQ:OPTNFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,959 shares of the company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also modified their holdings of OPTN. ExodusPoint Capital Management LP purchased a new stake in OptiNose during the 1st quarter valued at about $26,000. Cubist Systematic Strategies LLC purchased a new stake in OptiNose during the 1st quarter valued at about $28,000. Tower Research Capital LLC TRC grew its stake in OptiNose by 182.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,516 shares of the company’s stock valued at $28,000 after acquiring an additional 4,853 shares in the last quarter. JPMorgan Chase & Co. grew its stake in OptiNose by 172.7% during the 4th quarter. JPMorgan Chase & Co. now owns 15,817 shares of the company’s stock valued at $29,000 after acquiring an additional 10,017 shares in the last quarter. Finally, California State Teachers Retirement System purchased a new stake in OptiNose during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 85.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of OptiNose in a research note on Monday, March 18th. Lake Street Capital upped their price objective on shares of OptiNose from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Monday, March 18th.

Read Our Latest Stock Analysis on OPTN

Insider Transactions at OptiNose

In other news, CEO Ramy A. Mahmoud sold 52,875 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $1.31, for a total value of $69,266.25. Following the transaction, the chief executive officer now directly owns 548,387 shares in the company, valued at approximately $718,386.97. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other OptiNose news, insider Michael F. Marino III sold 15,059 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $1.88, for a total transaction of $28,310.92. Following the sale, the insider now directly owns 602,268 shares in the company, valued at approximately $1,132,263.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ramy A. Mahmoud sold 52,875 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $1.31, for a total transaction of $69,266.25. Following the sale, the chief executive officer now owns 548,387 shares in the company, valued at $718,386.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,477 shares of company stock worth $138,078. 2.20% of the stock is currently owned by insiders.

OptiNose Price Performance

OptiNose stock opened at $1.44 on Tuesday. The firm has a 50 day simple moving average of $1.54 and a 200-day simple moving average of $1.34. OptiNose, Inc. has a 1-year low of $0.90 and a 1-year high of $2.10.

OptiNose (NASDAQ:OPTNGet Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $19.87 million during the quarter, compared to analysts’ expectations of $19.90 million. During the same period last year, the company earned ($0.17) EPS. Equities analysts forecast that OptiNose, Inc. will post -0.26 EPS for the current year.

OptiNose Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for OptiNose (NASDAQ:OPTN)

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