OptiNose (NASDAQ:OPTN) Earns Neutral Rating from Piper Sandler

Piper Sandler reiterated their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a report published on Friday morning,Benzinga reports. They currently have a $9.00 target price on the stock, down from their prior target price of $15.00.

OPTN has been the topic of several other reports. Lake Street Capital lowered shares of OptiNose from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $17.00 to $9.00 in a research note on Thursday. 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.

OptiNose Price Performance

OptiNose stock opened at $9.15 on Friday. The firm has a market capitalization of $92.05 million, a PE ratio of -2.18 and a beta of -0.30. The company’s 50-day moving average is $5.96 and its 200-day moving average is $8.17. OptiNose has a fifty-two week low of $4.82 and a fifty-two week high of $25.20.

Insider Buying and Selling

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose 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 completion of the sale, the chief executive officer now owns 126,931 shares of the company’s stock, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 8,213 shares of company stock valued at $43,643. Company insiders own 2.30% of the company’s stock.

Institutional Trading of OptiNose

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in shares of 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 buying an additional 518,610 shares during the period. Stonepine Capital Management LLC boosted its holdings in OptiNose by 142.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,338,580 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 155,329 shares during the period. Geode Capital Management LLC boosted its holdings in OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after purchasing an additional 326,918 shares during the period. Finally, Acorn Capital Advisors LLC bought a new stake in OptiNose in the 4th quarter valued at about $2,824,000. Institutional investors 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.