OptiNose (NASDAQ:OPTN) Lowered to Hold Rating by Piper Sandler

OptiNose (NASDAQ:OPTN) was downgraded by equities research analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

OPTN has been the topic of a number of other reports. Lake Street Capital lowered OptiNose from a “buy” rating to a “hold” rating and cut their price objective for the stock from $17.00 to $9.00 in a research report on Thursday. HC Wainwright reiterated a “neutral” rating and issued a $9.00 price target (down previously from $18.00) on shares of OptiNose in a report on Friday.

OptiNose Stock Performance

OptiNose stock opened at $9.15 on Thursday. The firm has a market cap of $92.05 million, a P/E ratio of -2.18 and a beta of -0.30. OptiNose has a 1-year low of $4.82 and a 1-year high of $25.20. The firm has a 50-day moving average of $5.96 and a 200-day moving average of $8.17.

Insiders Place Their Bets

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the sale, the chief executive officer now owns 126,931 shares in the company, 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 quarter, insiders have sold 8,213 shares of company stock worth $43,643. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OPTN. State Street Corp grew its holdings in OptiNose by 14.2% in the third 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. GSA Capital Partners LLP bought a new stake in shares of OptiNose in the 3rd quarter worth approximately $61,000. Massachusetts Financial Services Co. MA grew its stake in shares of OptiNose by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after buying an additional 155,329 shares during the last quarter. Geode Capital Management LLC increased its position in OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after buying an additional 326,918 shares in the last quarter. Finally, Acorn Capital Advisors LLC purchased a new position in OptiNose during the fourth quarter valued at $2,824,000. 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.