OptiNose (NASDAQ:OPTN) Cut to “Hold” at Piper Sandler

OptiNose (NASDAQ:OPTN) was downgraded by stock analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

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

OptiNose Stock Performance

Shares of OPTN stock opened at $9.15 on Thursday. The company has a market capitalization of $92.05 million, a PE 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 $25.20. The business’s fifty day moving average is $5.96 and its 200 day moving average is $8.17.

Insider Transactions at OptiNose

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 8,213 shares of company stock worth $43,643. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OptiNose

A number of hedge funds have recently made changes to their positions in OPTN. GSA Capital Partners LLP purchased a new position in OptiNose in the 3rd quarter worth $61,000. State Street Corp grew its stake in shares of 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 buying an additional 42,500 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 326,918 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of OptiNose by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after acquiring an additional 155,329 shares during the last quarter. Finally, Acorn Capital Advisors LLC purchased a new stake in OptiNose during the 4th quarter valued at about $2,824,000. 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.