OptiNose, Inc. (NASDAQ:OPTN) Short Interest Down 18.9% in November

OptiNose, Inc. (NASDAQ:OPTN) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 7,360,000 shares, a decrease of 18.9% from the November 15th total of 9,070,000 shares. Based on an average daily volume of 758,100 shares, the days-to-cover ratio is presently 9.7 days.

Hedge Funds Weigh In On OptiNose

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of OptiNose by 1.5% during the first quarter. Vanguard Group Inc. now owns 4,242,610 shares of the company’s stock valued at $6,194,000 after acquiring an additional 62,906 shares during the last quarter. Easterly Investment Partners LLC boosted its position in OptiNose by 10.2% during the 2nd quarter. Easterly Investment Partners LLC now owns 2,246,224 shares of the company’s stock valued at $2,336,000 after acquiring an additional 208,185 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of OptiNose by 2.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock worth $3,037,000 after acquiring an additional 81,233 shares during the period. XTX Topco Ltd purchased a new position in shares of OptiNose during the 2nd quarter worth approximately $88,000. Finally, Great Point Partners LLC raised its position in shares of OptiNose by 56.2% in the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock worth $14,276,000 after acquiring an additional 4,940,779 shares in the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

OptiNose Stock Down 3.6 %

Shares of OPTN traded down $0.02 during trading hours on Monday, hitting $0.45. The company had a trading volume of 409,286 shares, compared to its average volume of 781,738. OptiNose has a 52-week low of $0.32 and a 52-week high of $2.10. The stock’s 50 day moving average price is $0.61 and its 200 day moving average price is $0.86. The firm has a market cap of $68.48 million, a P/E ratio of -1.64 and a beta of -0.17.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OPTN shares. Piper Sandler decreased their price objective on OptiNose from $3.00 to $1.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of OptiNose 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.