OptiNose, Inc. (NASDAQ:OPTN) Sees Significant Growth in Short Interest

OptiNose, Inc. (NASDAQ:OPTN - Get Free Report) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 247,800 shares, a growth of 16.2% from the January 15th total of 213,300 shares. Based on an average trading volume of 65,200 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.1% of the company's stock are short sold.

OptiNose Trading Up 0.8 %

Shares of OPTN stock traded up $0.05 during trading hours on Thursday, reaching $6.00. 18,114 shares of the company's stock were exchanged, compared to its average volume of 38,076. The stock's 50 day moving average is $6.10 and its 200-day moving average is $9.43. The company has a market cap of $60.36 million, a price-to-earnings ratio of -1.43 and a beta of -0.17. OptiNose has a fifty-two week low of $4.82 and a fifty-two week high of $31.50.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OPTN. Lake Street Capital reduced their price target on OptiNose from $45.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Piper Sandler reduced their target price on shares of OptiNose from $45.00 to $15.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. Finally, HC Wainwright raised their price target on shares of OptiNose from $5.00 to $18.00 and gave the company a "buy" rating in a report on Friday, January 3rd.

Hedge Funds Weigh In On OptiNose

A number of large investors have recently made changes to their positions in OPTN. 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 worth $764,000 after purchasing an additional 152,435 shares in the last quarter. Rosalind Advisors Inc. increased its position in shares of OptiNose by 9.8% in the 3rd quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company's stock valued at $5,553,000 after acquiring an additional 740,355 shares during the period. Easterly Investment Partners LLC increased its position in shares of OptiNose by 5.0% in the 3rd quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company's stock valued at $1,581,000 after acquiring an additional 113,015 shares during the period. GSA Capital Partners LLP acquired a new position in shares of OptiNose in the 3rd quarter valued at $61,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of OptiNose by 5.3% in 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 during the period. 85.60% of the stock is owned by institutional investors and hedge funds.

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.