OptiNose, Inc. (NASDAQ:OPTN) Short Interest Update

OptiNose, Inc. (NASDAQ:OPTN) was the target of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 247,800 shares, a growth of 16.2% from the January 15th total of 213,300 shares. Based on an average daily volume of 65,200 shares, the days-to-cover ratio is currently 3.8 days. Approximately 3.1% of the shares of the company are sold short.

OptiNose Stock Performance

Shares of NASDAQ:OPTN traded up $0.38 during midday trading on Friday, reaching $6.00. 23,563 shares of the company’s stock traded hands, compared to its average volume of 47,458. OptiNose has a 1 year low of $4.82 and a 1 year high of $31.50. The company has a market cap of $60.36 million, a P/E ratio of -1.43 and a beta of -0.17. The company has a fifty day simple moving average of $6.23 and a two-hundred day simple moving average of $9.61.

Institutional Investors Weigh In On OptiNose

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in OptiNose during the 3rd quarter worth $61,000. State Street Corp boosted its position in shares of OptiNose by 14.2% during the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after acquiring an additional 42,500 shares during the last quarter. Rice Hall James & Associates LLC boosted its position in shares of OptiNose by 15.4% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock valued at $764,000 after acquiring an additional 152,435 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after acquiring an additional 326,918 shares during the last quarter. Finally, Easterly Investment Partners LLC boosted its position in shares of OptiNose by 5.0% during the 3rd quarter. Easterly Investment Partners LLC now owns 2,359,239 shares of the company’s stock valued at $1,581,000 after acquiring an additional 113,015 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. HC Wainwright raised their price objective on shares of OptiNose from $5.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Lake Street Capital dropped their price objective on shares of OptiNose from $45.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Piper Sandler dropped their price objective on shares of OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th.

About OptiNose

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.