OptiNose, Inc. (NASDAQ:OPTN) Sees Large Decline in Short Interest

OptiNose, Inc. (NASDAQ:OPTN) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 7,360,000 shares, a decrease of 18.9% from the November 15th total of 9,070,000 shares. Based on an average daily volume of 758,100 shares, the short-interest ratio is currently 9.7 days.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of OptiNose in a research report on Wednesday, November 13th. Piper Sandler lowered their target price on shares of OptiNose from $3.00 to $1.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th.

OptiNose Trading Down 3.5 %

Shares of OPTN traded down $0.02 during trading hours on Friday, reaching $0.47. 206,744 shares of the company’s stock traded hands, compared to its average volume of 783,284. OptiNose has a 12 month low of $0.32 and a 12 month high of $2.10. The stock has a market cap of $71.04 million, a PE ratio of -1.68 and a beta of -0.17. The firm’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.86.

Institutional Investors Weigh In On OptiNose

Several hedge funds have recently bought and sold shares of OPTN. Nantahala Capital Management LLC increased its holdings in shares of OptiNose by 442.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock worth $14,425,000 after buying an additional 10,944,444 shares during the last quarter. Great Point Partners LLC increased its stake in OptiNose by 56.2% in the second quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after acquiring an additional 4,940,779 shares during the last quarter. Stonepine Capital Management LLC raised its position in OptiNose by 142.1% during the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,338,580 shares in the last quarter. Rosalind Advisors Inc. lifted its stake in OptiNose by 9.8% during the third quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock worth $5,553,000 after purchasing an additional 740,355 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of OptiNose by 3.2% in the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. 85.60% of the stock is currently owned by institutional investors.

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.