OptiNose, Inc. (NASDAQ:OPTN) CEO Sells $33,729.04 in Stock

OptiNose, Inc. (NASDAQ:OPTN) CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total transaction of $33,729.04. Following the completion of the sale, the chief executive officer now directly owns 126,931 shares in the company, valued at $671,464.99. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

OptiNose Stock Performance

OptiNose stock traded up $0.35 during mid-day trading on Tuesday, reaching $5.62. The company’s stock had a trading volume of 51,128 shares, compared to its average volume of 54,008. The firm’s fifty day moving average price is $5.96 and its two-hundred day moving average price is $8.93. OptiNose, Inc. has a 12-month low of $4.82 and a 12-month high of $31.50. The company has a market capitalization of $56.54 million, a P/E ratio of -1.34 and a beta of -0.17.

Institutional Trading of OptiNose

A number of hedge funds and other institutional investors have recently made changes to their positions in OPTN. Stonepine Capital Management LLC boosted its stake in OptiNose by 142.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,338,580 shares during the period. Rosalind Advisors Inc. lifted its holdings in shares of OptiNose by 9.8% in the third quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock worth $5,553,000 after buying an additional 740,355 shares in the last quarter. FMR LLC boosted its position in shares of OptiNose by 3.2% in the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after acquiring an additional 518,610 shares during the period. Acorn Capital Advisors LLC purchased a new position in OptiNose during the fourth quarter valued at approximately $2,824,000. Finally, Geode Capital Management LLC increased its holdings in OptiNose by 33.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock worth $870,000 after acquiring an additional 326,918 shares during the period. 85.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OPTN. Piper Sandler lowered their target price on OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Lake Street Capital decreased their price objective on OptiNose from $45.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, HC Wainwright upped their price objective on shares of OptiNose from $5.00 to $18.00 and gave the company a “buy” rating in a report on Friday, January 3rd.

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.