OptiNose, Inc. (NASDAQ:OPTN) Short Interest Update

OptiNose, Inc. (NASDAQ:OPTN) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 304,600 shares, a decline of 90.5% from the December 31st total of 3,190,000 shares. Based on an average daily trading volume, of 55,300 shares, the days-to-cover ratio is presently 5.5 days. Approximately 3.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

OPTN has been the topic of a number of recent research reports. Lake Street Capital dropped their target price on OptiNose from $45.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. HC Wainwright increased their price objective on shares of OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Piper Sandler reduced their target price on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th.

OptiNose Trading Down 3.8 %

OPTN traded down $0.24 during mid-day trading on Tuesday, hitting $6.15. 17,214 shares of the stock were exchanged, compared to its average volume of 57,301. The firm’s fifty day moving average is $6.65 and its two-hundred day moving average is $10.56. OptiNose has a 1-year low of $4.82 and a 1-year high of $31.50. The company has a market cap of $61.87 million, a PE ratio of -1.47 and a beta of -0.15.

Institutional Investors Weigh In On OptiNose

Several large investors have recently bought and sold shares of OPTN. XTX Topco Ltd purchased a new position in OptiNose in the second quarter valued at $88,000. Squarepoint Ops LLC boosted its stake in OptiNose by 173.7% in the second quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after acquiring an additional 108,903 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in OptiNose by 442.3% in the second quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock valued at $14,425,000 after acquiring an additional 10,944,444 shares in the last quarter. Stonepine Capital Management LLC purchased a new position in shares of OptiNose during the second quarter worth about $2,444,000. 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 purchasing an additional 152,435 shares in the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.

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.