Short Interest in OptiNose, Inc. (NASDAQ:OPTN) Grows By 16.2%

OptiNose, Inc. (NASDAQ:OPTN) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 247,800 shares, a growth of 16.2% from the January 15th total of 213,300 shares. Based on an average trading volume of 65,200 shares, the days-to-cover ratio is presently 3.8 days. Currently, 3.1% of the shares of the stock are short sold.

OptiNose Trading Up 6.8 %

Shares of OPTN stock traded up $0.38 during mid-day trading on Friday, reaching $6.00. The stock had a trading volume of 23,563 shares, compared to its average volume of 47,458. OptiNose has a 12-month low of $4.82 and a 12-month high of $31.50. The company has a market cap of $60.36 million, a P/E ratio of -1.43 and a beta of -0.17. The business has a 50-day simple moving average of $6.23 and a 200 day simple moving average of $9.61.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OPTN. GSA Capital Partners LLP purchased a new position in shares of OptiNose in the third quarter valued at $61,000. State Street Corp boosted 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 acquiring an additional 42,500 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of OptiNose by 15.4% during 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of OptiNose by 33.7% during the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after acquiring an additional 326,918 shares during the last quarter. Finally, Easterly Investment Partners LLC boosted its stake in shares of OptiNose by 5.0% during the third quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company’s stock valued at $1,581,000 after acquiring an additional 113,015 shares during the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.