OptiNose (NASDAQ:OPTN) Shares Down 6.1% – Time to Sell?

OptiNose, Inc. (NASDAQ:OPTN) fell 6.1% during trading on Thursday . The stock traded as low as $6.09 and last traded at $6.27. 36,397 shares were traded during trading, a decline of 31% from the average session volume of 52,619 shares. The stock had previously closed at $6.68.

Analyst Upgrades and Downgrades

OPTN has been the topic of several research reports. Piper Sandler lowered their price objective on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of OptiNose in a research report on Wednesday, November 13th.

OptiNose Stock Performance

The business’s 50 day moving average is $8.01 and its two-hundred day moving average is $11.97. The firm has a market capitalization of $995.47 million, a PE ratio of -23.57 and a beta of -0.16.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OPTN. XTX Topco Ltd purchased a new stake in shares of OptiNose in the second quarter worth about $88,000. GSA Capital Partners LLP bought a new position in OptiNose in the 3rd quarter valued at $61,000. Squarepoint Ops LLC grew its position in shares of OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after purchasing an additional 108,903 shares in the last quarter. State Street Corp increased its holdings in shares of OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after purchasing an additional 42,500 shares during the period. Finally, Rice Hall James & Associates LLC raised its position in shares of OptiNose by 15.4% in the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock worth $764,000 after buying an additional 152,435 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.

OptiNose Company Profile

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.