OptiNose, Inc. (NASDAQ:OPTN) Short Interest Update

OptiNose, Inc. (NASDAQ:OPTN - Get Free Report) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 191,700 shares, a decrease of 29.5% from the March 15th total of 271,800 shares. Based on an average daily volume of 93,100 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.4% of the company's shares are sold short.

OptiNose Stock Performance

Shares of OptiNose stock traded up $0.01 during midday trading on Wednesday, hitting $9.18. The company had a trading volume of 22,306 shares, compared to its average volume of 68,595. OptiNose has a 52-week low of $4.82 and a 52-week high of $20.03. The stock has a market capitalization of $92.97 million, a P/E ratio of -2.19 and a beta of -0.87. The company has a 50 day moving average of $7.52 and a 200 day moving average of $7.66.

OptiNose (NASDAQ:OPTN - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.67. The company had revenue of $21.47 million for the quarter, compared to the consensus estimate of $21.02 million. Equities research analysts forecast that OptiNose will post -3.22 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the business'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 transaction, the chief executive officer now owns 126,931 shares in the company, valued at $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 8,213 shares of company stock worth $43,643. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OptiNose

A number of institutional investors have recently made changes to their positions in the company. Deltec Asset Management LLC bought a new position in OptiNose in the 1st quarter valued at approximately $206,000. FNY Investment Advisers LLC purchased a new stake in shares of OptiNose during the first quarter valued at $40,000. Acorn Capital Advisors LLC bought a new stake in OptiNose in the 4th quarter worth about $2,824,000. Geode Capital Management LLC increased 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 worth $870,000 after buying an additional 326,918 shares in the last quarter. Finally, State Street Corp raised its position in OptiNose by 14.2% in the 3rd quarter. State Street Corp now owns 341,303 shares of the company's stock worth $229,000 after buying an additional 42,500 shares during the last quarter. Hedge funds and other institutional investors own 85.60% of the company's stock.

Analyst Upgrades and Downgrades

OPTN has been the subject of a number of research analyst reports. Piper Sandler restated a "neutral" rating and issued a $9.00 target price (down previously from $15.00) on shares of OptiNose in a research note on Friday, March 21st. HC Wainwright restated a "neutral" rating and set a $9.00 target price (down previously from $18.00) on shares of OptiNose in a report on Friday, March 21st. Finally, Lake Street Capital lowered shares of OptiNose from a "buy" rating to a "hold" rating and decreased their price target for the stock from $17.00 to $9.00 in a research note on Thursday, March 20th.

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.