OptiNose (NASDAQ:OPTN) Downgraded to “Hold” Rating by Lake Street Capital

Lake Street Capital lowered shares of OptiNose (NASDAQ:OPTN) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat reports. They currently have $9.00 target price on the stock, down from their previous target price of $17.00.

Separately, HC Wainwright upped their price target on shares of OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd.

OptiNose Price Performance

OPTN stock opened at $9.15 on Thursday. OptiNose has a 1-year low of $4.82 and a 1-year high of $25.80. The firm has a fifty day moving average price of $5.88 and a two-hundred day moving average price of $8.22. The firm has a market cap of $92.05 million, a price-to-earnings ratio of -2.18 and a beta of -0.30.

Insider Transactions at OptiNose

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the company’s 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 transaction, the chief executive officer now owns 126,931 shares in the company, valued at approximately $671,464.99. This represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 8,213 shares of company stock worth $43,643. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On OptiNose

A number of institutional investors and hedge funds have recently bought and sold shares of OPTN. GSA Capital Partners LLP bought a new position in OptiNose in the 3rd quarter valued at about $61,000. Massachusetts Financial Services Co. MA grew its position 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 buying an additional 155,329 shares in the last quarter. FMR LLC grew its position in OptiNose by 3.2% in the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after buying an additional 518,610 shares in the last quarter. Stonepine Capital Management LLC grew its position 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 buying an additional 3,338,580 shares in the last quarter. Finally, State Street Corp grew its position in OptiNose by 14.2% in the 3rd 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 in the last quarter. 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.