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

OptiNose, Inc. (NASDAQ:OPTN) was the target of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 3,190,000 shares, a decline of 56.7% from the November 30th total of 7,360,000 shares. Based on an average trading volume of 754,800 shares, the short-interest ratio is presently 4.2 days.

OptiNose Stock Down 4.2 %

Shares of OPTN stock traded down $0.02 during trading on Friday, hitting $0.40. The company had a trading volume of 153,401 shares, compared to its average volume of 779,133. The stock’s 50-day moving average is $0.56 and its two-hundred day moving average is $0.82. The stock has a market capitalization of $60.36 million, a price-to-earnings ratio of -1.43 and a beta of -0.17. OptiNose has a 52 week low of $0.32 and a 52 week high of $2.10.

OptiNose’s stock is going to reverse split on the morning of Tuesday, December 31st. The 1-15 reverse split was announced on Thursday, December 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler cut their target price on OptiNose from $3.00 to $1.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of OptiNose in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On OptiNose

A number of large investors have recently modified their holdings of OPTN. GSA Capital Partners LLP bought a new position in OptiNose during the third quarter valued at approximately $61,000. XTX Topco Ltd purchased a new stake in shares of OptiNose in the 2nd quarter valued at $88,000. Squarepoint Ops LLC grew its holdings in shares of OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after purchasing an additional 108,903 shares during the last quarter. State Street Corp raised its position 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 purchasing an additional 42,500 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in OptiNose by 15.4% in 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 during the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

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.