OptiNose (NASDAQ:OPTN) Rating Lowered to Hold at Piper Sandler

Piper Sandler cut shares of OptiNose (NASDAQ:OPTN) from a strong-buy rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. HC Wainwright restated a “neutral” rating and set a $9.00 price objective (down from $18.00) on shares of OptiNose in a research note on Friday. Lake Street Capital lowered OptiNose from a “buy” rating to a “hold” rating and dropped their target price for the stock from $17.00 to $9.00 in a report on Thursday.

OptiNose Price Performance

Shares of OPTN stock opened at $9.15 on Thursday. OptiNose has a 12 month low of $4.82 and a 12 month high of $24.60. The company’s fifty day simple moving average is $5.96 and its 200-day simple moving average is $8.13. The firm has a market cap of $92.05 million, a PE ratio of -2.18 and a beta of -0.30.

Insiders Place Their Bets

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the transaction, the chief executive officer now directly 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 document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 8,213 shares of company stock valued at $43,643. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OptiNose

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in OptiNose during the third quarter worth approximately $61,000. State Street Corp boosted its stake in shares of 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 during the period. Acorn Capital Advisors LLC bought a new position in shares of OptiNose during the 4th quarter worth approximately $2,824,000. Geode Capital Management LLC increased its holdings in shares of OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock worth $870,000 after acquiring an additional 326,918 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in 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 period. 85.60% of the stock is currently owned by institutional investors and hedge funds.

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.