OptiNose (NASDAQ:OPTN) Shares Down 6.1% - Should You Sell?

OptiNose, Inc. (NASDAQ:OPTN - Get Free Report) shares traded down 6.1% on Thursday . The stock traded as low as $6.09 and last traded at $6.27. 36,397 shares were traded during mid-day trading, a decline of 31% from the average session volume of 52,619 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

OPTN has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating and set a $75.00 price target on shares of OptiNose in a report on Wednesday, November 13th. Piper Sandler lowered their target price 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.

OptiNose Trading Up 0.3 %

The stock has a fifty day simple moving average of $7.91 and a 200-day simple moving average of $11.94. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -23.93 and a beta of -0.16.

Institutional Trading of OptiNose

A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in shares of OptiNose during the third quarter valued at about $61,000. XTX Topco Ltd acquired a new position in OptiNose in the 2nd quarter valued at approximately $88,000. Squarepoint Ops LLC lifted its position in shares of OptiNose by 173.7% in the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company's stock worth $178,000 after acquiring an additional 108,903 shares during the period. State Street Corp grew its holdings in shares of OptiNose by 14.2% during the 3rd quarter. State Street Corp now owns 341,303 shares of the company's stock worth $229,000 after purchasing an additional 42,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its position in shares of OptiNose by 15.4% during the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company's stock valued at $764,000 after purchasing an additional 152,435 shares during the period. 85.60% of the stock is owned by institutional investors.

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.