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

Piper Sandler reaffirmed their neutral rating on shares of OptiNose (NASDAQ:OPTN) in a report published on Friday morning,Benzinga reports. Piper Sandler currently has a $9.00 price target on the stock, down from their prior price target of $15.00.

A number of other equities analysts have also recently weighed in on the stock. Lake Street Capital cut shares of OptiNose from a “buy” rating to a “hold” rating and reduced their price target for the stock from $17.00 to $9.00 in a research report on Thursday. HC Wainwright reissued a “neutral” rating and set a $9.00 price target (down from $18.00) on shares of OptiNose in a research report on Friday.

OptiNose Price Performance

Shares of NASDAQ OPTN opened at $9.15 on Friday. The company’s fifty day moving average is $5.96 and its 200-day moving average is $8.17. The stock has a market cap of $92.05 million, a price-to-earnings ratio of -2.18 and a beta of -0.30. OptiNose has a twelve month low of $4.82 and a twelve month high of $25.20.

Insider Activity at OptiNose

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 126,931 shares of the company’s stock, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 8,213 shares of company stock valued at $43,643. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OptiNose

Several institutional investors have recently added to or reduced their stakes in OPTN. GSA Capital Partners LLP acquired a new stake in OptiNose in the 3rd quarter valued at $61,000. State Street Corp increased its stake in OptiNose by 14.2% in the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after buying an additional 42,500 shares during the last quarter. Acorn Capital Advisors LLC acquired a new stake in OptiNose in the 4th quarter valued at $2,824,000. Geode Capital Management LLC increased 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 buying an additional 326,918 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in 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 buying an additional 155,329 shares during the last quarter. 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.