OptiNose, Inc. (NASDAQ:OPTN) Position Reduced by Easterly Investment Partners LLC

Easterly Investment Partners LLC lessened its position in OptiNose, Inc. (NASDAQ:OPTN) by 98.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,667 shares of the company’s stock after selling 2,312,572 shares during the period. Easterly Investment Partners LLC owned approximately 0.46% of OptiNose worth $312,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in OptiNose by 5.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock worth $2,061,000 after acquiring an additional 155,329 shares in the last quarter. FMR LLC raised its holdings in shares of OptiNose by 3.2% in the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares in the last quarter. Geode Capital Management LLC lifted its stake in OptiNose by 33.7% during the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock valued at $870,000 after purchasing an additional 326,918 shares during the last quarter. Finally, State Street Corp boosted its holdings in OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after buying an additional 42,500 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OPTN shares. Lake Street Capital cut OptiNose from a “buy” rating to a “hold” rating and dropped their price target for the company from $17.00 to $9.00 in a report on Thursday, March 20th. HC Wainwright restated a “neutral” rating and issued a $9.00 price target (down previously from $18.00) on shares of OptiNose in a research report on Friday, March 21st. Finally, Piper Sandler reiterated a “neutral” rating and set a $9.00 price objective (down from $15.00) on shares of OptiNose in a research report on Friday, March 21st.

Insider Buying and Selling

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total value of $33,729.04. Following the transaction, the chief executive officer now directly owns 126,931 shares of the company’s stock, valued at $671,464.99. This represents a 4.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 8,213 shares of company stock worth $43,643. Corporate insiders own 2.30% of the company’s stock.

OptiNose Price Performance

NASDAQ:OPTN opened at $9.14 on Friday. The stock’s 50-day moving average is $6.25 and its two-hundred day moving average is $8.02. The stock has a market cap of $91.95 million, a PE ratio of -2.18 and a beta of -0.30. OptiNose, Inc. has a fifty-two week low of $4.82 and a fifty-two week high of $22.50.

OptiNose (NASDAQ:OPTN) last released its earnings results on Wednesday, March 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.67. The company had revenue of $21.47 million during the quarter, compared to analysts’ expectations of $21.02 million. On average, equities research analysts anticipate that OptiNose, Inc. will post -3.22 earnings per share for the current year.

OptiNose 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.