OptiNose (NASDAQ:OPTN) Receives Neutral Rating from HC Wainwright

HC Wainwright reiterated their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a research note released on Friday morning,Benzinga reports. The firm currently has a $9.00 price target on the stock, down from their prior price target of $18.00.

Separately, Lake Street Capital cut shares of 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 report on Thursday.

OptiNose Price Performance

OPTN stock opened at $9.15 on Friday. OptiNose has a 52-week low of $4.82 and a 52-week high of $25.20. The company has a 50-day moving average of $5.96 and a two-hundred day moving average of $8.17. The stock has a market capitalization of $92.05 million, a price-to-earnings ratio of -2.18 and a beta of -0.30.

Insider Activity at OptiNose

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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 approximately $671,464.99. This trade represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 8,213 shares of company stock worth $43,643. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On OptiNose

Several hedge funds have recently made changes to their positions in the stock. Acorn Capital Advisors LLC bought a new stake in shares of OptiNose in the fourth quarter valued at about $2,824,000. Geode Capital Management LLC raised its position 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 in the last quarter. State Street Corp raised its position in OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after purchasing an additional 42,500 shares in the last quarter. Stonepine Capital Management LLC raised its position in OptiNose by 142.1% in the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,338,580 shares in the last quarter. Finally, FMR LLC raised its position in OptiNose by 3.2% in the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.

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.