OptiNose, Inc. (NASDAQ:OPTN) Sees Large Growth in Short Interest

OptiNose, Inc. (NASDAQ:OPTN) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 247,800 shares, an increase of 16.2% from the January 15th total of 213,300 shares. Currently, 3.1% of the shares of the company are sold short. Based on an average trading volume of 65,200 shares, the short-interest ratio is currently 3.8 days.

OptiNose Stock Up 6.8 %

OPTN traded up $0.38 during trading hours on Monday, hitting $6.00. The stock had a trading volume of 23,563 shares, compared to its average volume of 47,458. OptiNose has a 1 year low of $4.82 and a 1 year high of $31.50. The company’s fifty day simple moving average is $6.23 and its 200 day simple moving average is $9.61. The stock has a market cap of $60.36 million, a PE ratio of -1.43 and a beta of -0.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new stake in shares of OptiNose during the third quarter worth $61,000. Massachusetts Financial Services Co. MA grew its position in shares of OptiNose by 5.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after purchasing an additional 155,329 shares in the last quarter. Rosalind Advisors Inc. raised its stake in shares of OptiNose by 9.8% during the 3rd quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock valued at $5,553,000 after purchasing an additional 740,355 shares during the period. FMR LLC lifted its holdings in OptiNose by 3.2% during the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. Finally, Easterly Investment Partners LLC boosted its stake in OptiNose by 5.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company’s stock worth $1,581,000 after purchasing an additional 113,015 shares during the period. 85.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Lake Street Capital dropped their price target on OptiNose from $45.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Piper Sandler cut their price target on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, HC Wainwright increased their price target on shares of OptiNose from $5.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, January 3rd.

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.