OptiNose’s (OPTN) Neutral Rating Reiterated at HC Wainwright

HC Wainwright restated their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a research report sent to investors on Friday morning, Marketbeat reports. The brokerage currently has a $9.00 target price on the stock, down from their previous target price of $18.00.

Separately, Lake Street Capital downgraded shares of OptiNose from a “buy” rating to a “hold” rating and lowered their price objective for the company from $17.00 to $9.00 in a research report on Thursday.

OptiNose Stock Performance

OPTN opened at $9.15 on Friday. The firm has a 50 day moving average price of $5.96 and a 200 day moving average price of $8.08. The company has a market cap of $92.05 million, a PE ratio of -2.18 and a beta of -0.30. OptiNose has a 1 year low of $4.82 and a 1 year high of $24.60.

Insider Buying and Selling at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $671,464.99. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 8,213 shares of company stock valued at $43,643 over the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of OptiNose

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in shares of OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after buying an additional 42,500 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of OptiNose during the third quarter worth approximately $61,000. Massachusetts Financial Services Co. MA grew its position in shares of OptiNose by 5.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after buying an additional 155,329 shares in the last quarter. Geode Capital Management LLC grew its position 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 worth $870,000 after buying an additional 326,918 shares in the last quarter. Finally, Acorn Capital Advisors LLC acquired a new stake in shares of OptiNose during the fourth quarter worth approximately $2,824,000. Institutional investors and hedge funds 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.