OptiNose (NASDAQ:OPTN) Sees Unusually-High Trading Volume – Here’s Why

Shares of OptiNose, Inc. (NASDAQ:OPTN) saw unusually-high trading volume on Tuesday . Approximately 53,015 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 51,968 shares.The stock last traded at $6.75 and had previously closed at $6.20.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of OptiNose in a research report on Wednesday, November 13th. Piper Sandler reduced their price target on OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th.

OptiNose Price Performance

The firm has a market cap of $968.32 million, a P/E ratio of -22.93 and a beta of -0.17. The company’s 50-day moving average is $0.55 and its two-hundred day moving average is $0.81.

Institutional Trading of OptiNose

Several large investors have recently made changes to their positions in OPTN. GSA Capital Partners LLP bought a new stake in OptiNose during the third quarter worth $61,000. XTX Topco Ltd acquired a new position in shares of OptiNose during the 2nd quarter worth $88,000. Squarepoint Ops LLC raised its holdings in shares of OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock worth $178,000 after buying an additional 108,903 shares in the last quarter. State Street Corp lifted its position 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 buying an additional 42,500 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in OptiNose by 15.4% in the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock valued at $764,000 after buying an additional 152,435 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

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.