OptiNose Inc (NASDAQ:OPTN) Sees Significant Decrease in Short Interest

OptiNose Inc (NASDAQ:OPTN) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 7,980,000 shares, a decrease of 10.6% from the January 15th total of 8,930,000 shares. Currently, 36.5% of the shares of the company are sold short. Based on an average daily volume of 270,900 shares, the days-to-cover ratio is presently 29.5 days.

Shares of OPTN stock traded down $0.17 during mid-day trading on Friday, reaching $6.86. The company’s stock had a trading volume of 690,906 shares, compared to its average volume of 191,290. OptiNose has a 1-year low of $4.44 and a 1-year high of $11.66. The company has a market cap of $285.25 million, a P/E ratio of -2.55 and a beta of 0.78. The company has a debt-to-equity ratio of 1.67, a quick ratio of 4.66 and a current ratio of 4.81. The firm’s 50-day moving average is $8.29 and its two-hundred day moving average is $7.90.

OptiNose (NASDAQ:OPTN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.69) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.69). OptiNose had a negative net margin of 419.37% and a negative return on equity of 137.60%. The company had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $8.56 million. Sell-side analysts anticipate that OptiNose will post -2.68 EPS for the current year.

A number of brokerages have recently issued reports on OPTN. ValuEngine cut shares of OptiNose from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. Piper Sandler restated a “buy” rating and issued a $24.00 price objective on shares of OptiNose in a research note on Friday, February 7th. Zacks Investment Research cut shares of OptiNose from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Cowen began coverage on shares of OptiNose in a research note on Wednesday, December 18th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, BidaskClub cut shares of OptiNose from a “sell” rating to a “strong sell” rating in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. OptiNose has a consensus rating of “Hold” and an average price target of $22.57.

In related news, Director Joseph C. Scodari bought 6,100 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $8.64 per share, for a total transaction of $52,704.00. Also, major shareholder Avista Capital Partners Ii Gp, sold 1,250,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $9.17, for a total transaction of $11,462,500.00. The disclosure for this sale can be found here. 44.30% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OPTN. Farallon Capital Management LLC bought a new stake in shares of OptiNose in the 4th quarter worth about $8,298,000. Tamarack Advisers LP bought a new stake in shares of OptiNose in the 3rd quarter worth about $4,725,000. FMR LLC grew its holdings in shares of OptiNose by 10.6% in the 4th quarter. FMR LLC now owns 6,876,249 shares of the company’s stock worth $63,399,000 after purchasing an additional 660,862 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of OptiNose by 106.1% in the 4th quarter. Franklin Resources Inc. now owns 1,250,600 shares of the company’s stock worth $11,531,000 after purchasing an additional 643,700 shares during the last quarter. Finally, Wildcat Capital Management LLC bought a new stake in shares of OptiNose in the 3rd quarter worth about $3,628,000. 68.49% of the stock is currently owned by institutional investors and hedge funds.

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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