Short Interest in OptiNose, Inc. (NASDAQ:OPTN) Declines By 90.5%

OptiNose, Inc. (NASDAQ:OPTN) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 304,600 shares, a drop of 90.5% from the December 31st total of 3,190,000 shares. Based on an average daily trading volume, of 55,300 shares, the short-interest ratio is presently 5.5 days. Approximately 3.8% of the shares of the stock are short sold.

Institutional Trading of OptiNose

Institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in OptiNose during the third quarter worth approximately $61,000. XTX Topco Ltd acquired a new stake in shares of OptiNose in the second quarter valued at about $88,000. Squarepoint Ops LLC raised its holdings in shares of OptiNose by 173.7% during 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 during the period. State Street Corp lifted its position in 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 acquiring an additional 42,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in OptiNose by 15.4% in the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock valued at $764,000 after acquiring an additional 152,435 shares in the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Lake Street Capital dropped their target price on shares of OptiNose from $45.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Piper Sandler cut their price objective on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, HC Wainwright raised their target price on shares of OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd.

OptiNose Price Performance

NASDAQ:OPTN traded down $0.24 during mid-day trading on Tuesday, reaching $6.15. The company’s stock had a trading volume of 17,214 shares, compared to its average volume of 57,301. OptiNose has a twelve month low of $4.82 and a twelve month high of $31.50. The company’s fifty day simple moving average is $6.65 and its two-hundred day simple moving average is $10.56. The stock has a market cap of $61.87 million, a P/E ratio of -1.47 and a beta of -0.15.

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.