OptiNose, Inc. (NASDAQ:OPTN) Sees Significant Decline in Short Interest

OptiNose, Inc. (NASDAQ:OPTN - Get Free Report) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 304,600 shares, a decline of 90.5% from the December 31st total of 3,190,000 shares. Currently, 3.8% of the company's shares are sold short. Based on an average daily trading volume, of 55,300 shares, the days-to-cover ratio is currently 5.5 days.

Analyst Ratings Changes

A number of brokerages have issued reports on OPTN. 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 research note on Wednesday, November 13th. Lake Street Capital dropped their price objective on shares of OptiNose from $45.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, HC Wainwright increased their target price on shares of OptiNose from $5.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, January 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OPTN. Stonepine Capital Management LLC acquired a new stake in shares of OptiNose in the 2nd quarter valued at $2,444,000. XTX Topco Ltd acquired a new stake in OptiNose in the second quarter valued at $88,000. Squarepoint Ops LLC lifted its holdings in OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company's stock worth $178,000 after buying an additional 108,903 shares during the last quarter. Nantahala Capital Management LLC boosted its position in shares of OptiNose by 442.3% during the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company's stock worth $14,425,000 after acquiring an additional 10,944,444 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of OptiNose during the 3rd quarter worth about $61,000. Hedge funds and other institutional investors own 85.60% of the company's stock.

OptiNose Stock Performance

Shares of OPTN traded down $0.16 during midday trading on Friday, hitting $5.92. The company had a trading volume of 35,702 shares, compared to its average volume of 49,870. OptiNose has a 1 year low of $4.82 and a 1 year high of $31.50. The firm has a market capitalization of $59.56 million, a P/E ratio of -1.41 and a beta of -0.15. The company's 50-day simple moving average is $6.64 and its 200-day simple moving average is $10.36.

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.