OptiNose (NASDAQ:OPTN) Given Neutral Rating at Piper Sandler

OptiNose (NASDAQ:OPTN - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Piper Sandler in a note issued to investors on Friday,Benzinga reports. They currently have a $9.00 target price on the stock, down from their prior target price of $15.00. Piper Sandler's price objective would suggest a potential downside of 1.59% from the stock's current price.

Other equities analysts have also issued research reports about the company. HC Wainwright reiterated a "neutral" rating and issued a $9.00 price target (down previously from $18.00) on shares of OptiNose in a research note on Friday. Lake Street Capital cut OptiNose from a "buy" rating to a "hold" rating and decreased their target price for the company from $17.00 to $9.00 in a research report on Thursday.

OptiNose Stock Performance

Shares of NASDAQ OPTN traded down $0.01 during trading hours on Friday, hitting $9.15. 87,246 shares of the stock were exchanged, compared to its average volume of 60,572. The company's fifty day simple moving average is $5.96 and its two-hundred day simple moving average is $8.08. The company has a market cap of $92.00 million, a PE ratio of -2.18 and a beta of -0.30. OptiNose has a 1-year low of $4.82 and a 1-year high of $24.60.

Insider Buying and Selling

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total transaction of $33,729.04. Following the sale, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 8,213 shares of company stock worth $43,643 in the last 90 days. Insiders own 2.30% of the company's stock.

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Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in OptiNose in the 3rd quarter valued at approximately $61,000. State Street Corp grew its stake in shares of OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company's stock worth $229,000 after purchasing an additional 42,500 shares during the last quarter. Acorn Capital Advisors LLC acquired a new stake in OptiNose in the fourth quarter valued at $2,824,000. Geode Capital Management LLC increased its holdings in OptiNose by 33.7% in 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. Finally, Massachusetts Financial Services Co. MA lifted 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 worth $2,061,000 after buying an additional 155,329 shares during the period. Institutional investors 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.