OptiNose (NASDAQ:OPTN) Downgraded by Piper Sandler to Hold

Piper Sandler lowered shares of OptiNose (NASDAQ:OPTN - Free Report) from a strong-buy rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Lake Street Capital lowered OptiNose from a "buy" rating to a "hold" rating and lowered their price objective for the company from $17.00 to $9.00 in a report on Thursday, March 20th. HC Wainwright restated a "neutral" rating and issued a $9.00 price target (down from $18.00) on shares of OptiNose in a research note on Friday, March 21st.

OptiNose Stock Performance

NASDAQ:OPTN remained flat at $9.17 during midday trading on Thursday. 142,098 shares of the company were exchanged, compared to its average volume of 61,647. The stock has a market cap of $92.25 million, a PE ratio of -2.18 and a beta of -0.30. The business's 50-day simple moving average is $6.12 and its two-hundred day simple moving average is $8.00. OptiNose has a 1 year low of $4.82 and a 1 year high of $22.50.

Insider Buying and Selling

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the completion of the transaction, the chief executive officer now directly owns 126,931 shares of the company's stock, valued at approximately $671,464.99. This trade represents a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 8,213 shares of company stock valued at $43,643. Corporate insiders own 2.30% of the company's stock.

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Institutional Investors Weigh In On OptiNose

Institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in OptiNose during the third quarter worth $61,000. State Street Corp boosted its position in shares of 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 in the last quarter. Acorn Capital Advisors LLC purchased a new stake in shares of OptiNose in the 4th quarter worth about $2,824,000. Geode Capital Management LLC grew its stake in OptiNose by 33.7% in the 3rd 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 last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in OptiNose by 5.3% during 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 acquiring an additional 155,329 shares in the last quarter. Institutional investors and hedge funds 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.