OptiNose Inc (NASDAQ:OPTN) Short Interest Update

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OptiNose Inc (NASDAQ:OPTN) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 6,060,000 shares, a decline of 5.0% from the April 30th total of 6,380,000 shares. Approximately 25.8% of the shares of the company are sold short. Based on an average trading volume of 326,600 shares, the short-interest ratio is currently 18.6 days.

In related news, Director Joseph C. Scodari purchased 8,700 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were purchased at an average price of $5.70 per share, for a total transaction of $49,590.00. Following the transaction, the director now directly owns 19,030 shares of the company’s stock, valued at approximately $108,471. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 44.30% of the company’s stock.

Several large investors have recently made changes to their positions in OPTN. Farallon Capital Management LLC purchased a new stake in shares of OptiNose during the 4th quarter worth approximately $8,298,000. FMR LLC boosted its stake in shares of OptiNose by 10.6% during the 4th quarter. FMR LLC now owns 6,876,249 shares of the company’s stock worth $63,399,000 after acquiring an additional 660,862 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of OptiNose by 106.1% during the 4th quarter. Franklin Resources Inc. now owns 1,250,600 shares of the company’s stock worth $11,531,000 after acquiring an additional 643,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of OptiNose by 39.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,437,213 shares of the company’s stock worth $6,453,000 after acquiring an additional 403,401 shares in the last quarter. Finally, Tamarack Advisers LP boosted its stake in shares of OptiNose by 55.6% during the 4th quarter. Tamarack Advisers LP now owns 1,050,000 shares of the company’s stock worth $8,568,000 after acquiring an additional 375,000 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ OPTN opened at $4.59 on Friday. The business’s 50 day moving average is $4.03 and its two-hundred day moving average is $6.91. The stock has a market capitalization of $199.69 million, a price-to-earnings ratio of -1.79 and a beta of 0.89. The company has a current ratio of 4.96, a quick ratio of 4.79 and a debt-to-equity ratio of 2.98. OptiNose has a 12-month low of $3.28 and a 12-month high of $11.66.

OptiNose (NASDAQ:OPTN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The business had revenue of $7.06 million for the quarter, compared to analyst estimates of $7.56 million. OptiNose had a negative return on equity of 209.89% and a negative net margin of 295.66%. Equities analysts forecast that OptiNose will post -2.16 earnings per share for the current fiscal year.

OPTN has been the topic of several recent research reports. Cantor Fitzgerald dropped their price target on OptiNose from $27.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. ValuEngine upgraded OptiNose from a “hold” rating to a “buy” rating in a research report on Wednesday, February 26th. Piper Sandler reiterated a “buy” rating and set a $24.00 target price on shares of OptiNose in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “buy” rating and set a $17.00 target price on shares of OptiNose in a research report on Wednesday, March 25th. Finally, Zacks Investment Research upgraded OptiNose from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $19.29.

About OptiNose

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, and throat; and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary optinose exhalation delivery system that delivers a topically-acting and anti-inflammatory corticosteroid for the treatment of chronic rhinosinusitis with and without nasal polyps.

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