Kornitzer Capital Management Inc. KS reduced its position in OptiNose Inc (NASDAQ:OPTN) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 541,690 shares of the company’s stock after selling 12,345 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 1.31% of OptiNose worth $3,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in OPTN. UBS Asset Management Americas Inc. purchased a new position in shares of OptiNose in the 2nd quarter worth $72,000. Susquehanna International Group LLP purchased a new position in OptiNose during the second quarter valued at $77,000. Paradigm Capital Management Inc. NY purchased a new position in OptiNose during the second quarter valued at $78,000. Cubist Systematic Strategies LLC purchased a new position in OptiNose during the second quarter valued at $82,000. Finally, A.R.T. Advisors LLC purchased a new position in OptiNose during the second quarter valued at $99,000. Hedge funds and other institutional investors own 64.76% of the company’s stock.
NASDAQ OPTN traded down $0.14 on Friday, hitting $9.99. 275,400 shares of the company traded hands, compared to its average volume of 191,401. OptiNose Inc has a 52-week low of $4.44 and a 52-week high of $11.72. The business’s 50 day moving average price is $7.57 and its 200-day moving average price is $7.44. The company has a market capitalization of $403.59 million, a price-to-earnings ratio of -3.73 and a beta of 0.63. The company has a current ratio of 6.60, a quick ratio of 6.43 and a debt-to-equity ratio of 1.06.
OptiNose (NASDAQ:OPTN) last announced its earnings results on Monday, August 12th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.75) by $0.09. OptiNose had a negative return on equity of 102.10% and a negative net margin of 670.20%. The business had revenue of $6.68 million during the quarter, compared to analyst estimates of $7.74 million. As a group, sell-side analysts predict that OptiNose Inc will post -2.79 earnings per share for the current year.
Several equities analysts recently weighed in on the company. Royal Bank of Canada set a $20.00 target price on OptiNose and gave the company a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research downgraded OptiNose from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th. ValuEngine downgraded OptiNose from a “buy” rating to a “hold” rating in a research report on Friday. Finally, BMO Capital Markets lowered their target price on OptiNose from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. OptiNose presently has a consensus rating of “Buy” and a consensus price target of $21.50.
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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