OptiNose (NASDAQ:OPTN) Downgraded by Piper Sandler to “Hold”

Piper Sandler downgraded shares of OptiNose (NASDAQ:OPTN) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

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

OptiNose Stock Performance

Shares of NASDAQ:OPTN opened at $9.15 on Thursday. The stock has a market capitalization of $92.05 million, a P/E ratio of -2.18 and a beta of -0.30. The stock’s 50-day moving average price is $5.96 and its 200-day moving average price is $8.17. OptiNose has a 12-month low of $4.82 and a 12-month high of $25.20.

Insider Activity at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 8,213 shares of company stock worth $43,643 over the last three months. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings 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 purchasing an additional 42,500 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of OptiNose in the third quarter valued at approximately $61,000. Massachusetts Financial Services Co. MA lifted its position 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 acquiring an additional 155,329 shares during the period. Geode Capital Management LLC lifted its stake in shares of OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock worth $870,000 after acquiring an additional 326,918 shares during the period. Finally, Acorn Capital Advisors LLC purchased a new position in OptiNose in the fourth quarter worth $2,824,000. Hedge funds and other institutional investors 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.