OptiNose (NASDAQ:OPTN) Cut to "Hold" at Lake Street Capital

OptiNose (NASDAQ:OPTN - Get Free Report) was downgraded by equities researchers at Lake Street Capital from a "buy" rating to a "hold" rating in a note issued to investors on Thursday, MarketBeat.com reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $17.00. Lake Street Capital's price target would suggest a potential downside of 1.85% from the stock's previous close.

Separately, HC Wainwright increased their price objective on shares of OptiNose from $5.00 to $18.00 and gave the company a "buy" rating in a research report on Friday, January 3rd.

OptiNose Trading Up 0.2 %

NASDAQ:OPTN traded up $0.02 during mid-day trading on Thursday, reaching $9.17. The company's stock had a trading volume of 214,076 shares, compared to its average volume of 61,053. The stock has a market cap of $92.25 million, a P/E ratio of -2.18 and a beta of -0.30. The firm's fifty day moving average price is $6.04 and its two-hundred day moving average price is $8.04. OptiNose has a 12-month low of $4.82 and a 12-month high of $24.60.

Insiders Place Their Bets

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total value of $33,729.04. Following the transaction, the chief executive officer now owns 126,931 shares in the company, valued at $671,464.99. This represents a 4.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 8,213 shares of company stock valued at $43,643. Insiders own 2.30% of the company's stock.

Institutional Trading of OptiNose

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new stake in shares of OptiNose during the 3rd quarter valued at $61,000. State Street Corp lifted its position in OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company's stock valued at $229,000 after purchasing an additional 42,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in OptiNose by 33.7% during the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company's stock valued at $870,000 after purchasing an additional 326,918 shares during the period. Massachusetts Financial Services Co. MA increased its position in OptiNose by 5.3% in the third 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 in the last quarter. Finally, Acorn Capital Advisors LLC bought a new position in shares of OptiNose in the fourth quarter worth about $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.