OptiNose (NASDAQ:OPTN) Stock Price Down 6.1% – What’s Next?

OptiNose, Inc. (NASDAQ:OPTN) shares fell 6.1% during mid-day trading on Thursday . The company traded as low as $6.09 and last traded at $6.27. 36,397 shares were traded during trading, a decline of 31% from the average session volume of 52,619 shares. The stock had previously closed at $6.68.

Analyst Upgrades and Downgrades

OPTN has been the topic of a number of research analyst reports. HC Wainwright boosted their target price on OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler decreased their target price on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th.

OptiNose Stock Down 3.0 %

The company’s 50 day moving average price is $7.81 and its two-hundred day moving average price is $11.86. The firm has a market cap of $980.39 million, a PE ratio of -23.21 and a beta of -0.16.

Institutional Trading of OptiNose

Several institutional investors have recently added to or reduced their stakes in OPTN. GSA Capital Partners LLP purchased a new stake in shares of OptiNose during the third quarter valued at $61,000. XTX Topco Ltd purchased a new stake in OptiNose in the 2nd quarter valued at about $88,000. Squarepoint Ops LLC grew its stake in OptiNose by 173.7% in the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock worth $178,000 after acquiring an additional 108,903 shares in the last quarter. State Street Corp grew its stake in OptiNose by 14.2% in 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 increased its position 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 worth $764,000 after acquiring an additional 152,435 shares during the period. 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.