OptiNose, Inc. (NASDAQ:OPTN) Short Interest Down 18.9% in November

OptiNose, Inc. (NASDAQ:OPTN) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 7,360,000 shares, a drop of 18.9% from the November 15th total of 9,070,000 shares. Based on an average trading volume of 758,100 shares, the days-to-cover ratio is currently 9.7 days.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler lowered their price target on shares of OptiNose from $3.00 to $1.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of OptiNose in a research report on Wednesday, November 13th.

OptiNose Price Performance

OPTN traded down $0.02 on Friday, reaching $0.47. 206,744 shares of the stock were exchanged, compared to its average volume of 783,284. The company’s 50-day moving average price is $0.62 and its 200 day moving average price is $0.87. The firm has a market capitalization of $71.04 million, a PE ratio of -1.68 and a beta of -0.17. OptiNose has a fifty-two week low of $0.32 and a fifty-two week high of $2.10.

Institutional Trading of OptiNose

Several large investors have recently made changes to their positions in OPTN. Geode Capital Management LLC lifted its holdings in OptiNose by 33.7% in the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after acquiring an additional 326,918 shares during the period. State Street Corp grew its position in OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after buying an additional 42,500 shares during the period. Stonepine Capital Management LLC increased its holdings in OptiNose by 142.1% in the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after buying an additional 3,338,580 shares in the last quarter. FMR LLC raised its position in shares of OptiNose by 3.2% in the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after acquiring an additional 518,610 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of OptiNose by 5.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after acquiring an additional 155,329 shares in the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

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.