Royal Bank of Canada Sells 5,033 Shares of OptiNose Inc (NASDAQ:OPTN)

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Royal Bank of Canada lowered its stake in shares of OptiNose Inc (NASDAQ:OPTN) by 23.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 16,740 shares of the company’s stock after selling 5,033 shares during the quarter. Royal Bank of Canada’s holdings in OptiNose were worth $75,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in OptiNose by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 159,938 shares of the company’s stock worth $718,000 after buying an additional 2,739 shares in the last quarter. Bank of America Corp DE grew its stake in OptiNose by 3.4% in the 4th quarter. Bank of America Corp DE now owns 117,274 shares of the company’s stock valued at $1,081,000 after purchasing an additional 3,818 shares during the period. Marshall Wace LLP bought a new position in OptiNose in the 4th quarter valued at $35,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in OptiNose by 181.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,255 shares of the company’s stock valued at $33,000 after purchasing an additional 4,677 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in OptiNose by 175.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,036 shares of the company’s stock valued at $36,000 after purchasing an additional 5,116 shares during the period. Institutional investors and hedge funds own 65.52% of the company’s stock.

A number of research analysts have issued reports on OPTN shares. BidaskClub upgraded OptiNose from a “hold” rating to a “buy” rating in a research note on Friday, July 17th. Piper Sandler restated a “market perform” rating and issued a $19.00 price objective on shares of OptiNose in a research note on Thursday, July 16th. Zacks Investment Research upgraded OptiNose from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of OptiNose in a research note on Thursday, July 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $18.50.

Shares of NASDAQ OPTN opened at $5.10 on Friday. OptiNose Inc has a one year low of $3.28 and a one year high of $11.66. The company has a debt-to-equity ratio of 2.98, a current ratio of 4.96 and a quick ratio of 4.79. The business’s fifty day moving average price is $5.57 and its 200-day moving average price is $5.53. The stock has a market capitalization of $233.91 million, a PE ratio of -1.99 and a beta of 1.02.

OptiNose (NASDAQ:OPTN) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.03. The firm had revenue of $7.06 million for the quarter, compared to analysts’ expectations of $7.56 million. OptiNose had a negative return on equity of 209.89% and a negative net margin of 295.66%. As a group, equities analysts expect that OptiNose Inc will post -2.16 EPS for the current fiscal year.

OptiNose Profile

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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Want to see what other hedge funds are holding OPTN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OptiNose Inc (NASDAQ:OPTN).

Institutional Ownership by Quarter for OptiNose (NASDAQ:OPTN)

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