Acorn Capital Advisors LLC Takes $2.82 Million Position in OptiNose, Inc. (NASDAQ:OPTN)

Acorn Capital Advisors LLC purchased a new stake in shares of OptiNose, Inc. (NASDAQ:OPTN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 422,813 shares of the company's stock, valued at approximately $2,824,000. OptiNose accounts for about 1.5% of Acorn Capital Advisors LLC's holdings, making the stock its 16th largest position. Acorn Capital Advisors LLC owned about 4.20% of OptiNose at the end of the most recent quarter.

Separately, Geode Capital Management LLC lifted its position 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 acquiring an additional 326,918 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company's stock.

OptiNose Stock Performance

Shares of NASDAQ OPTN traded up $0.04 during mid-day trading on Wednesday, reaching $9.42. The company's stock had a trading volume of 1,108 shares, compared to its average volume of 59,912. OptiNose, Inc. has a 1-year low of $4.82 and a 1-year high of $20.03. The stock has a market capitalization of $95.40 million, a P/E ratio of -2.24 and a beta of -0.88. The stock has a 50-day moving average of $8.16 and a two-hundred day moving average of $7.55.

OptiNose (NASDAQ:OPTN - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.67. The firm had revenue of $21.47 million for the quarter, compared to analysts' expectations of $21.02 million. Analysts predict that OptiNose, Inc. will post -3.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. HC Wainwright reissued a "neutral" rating and issued a $9.00 price target (down previously from $18.00) on shares of OptiNose in a report on Friday, March 21st. Lake Street Capital lowered shares of OptiNose from a "buy" rating to a "hold" rating and reduced their price target for the stock from $17.00 to $9.00 in a research report on Thursday, March 20th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down from $15.00) on shares of OptiNose in a report on Friday, March 21st.

Insiders Place Their Bets

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of OptiNose 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 completion of the transaction, the chief executive officer now directly owns 126,931 shares of the company's stock, valued at $671,464.99. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 8,213 shares of company stock valued at $43,643 over the last 90 days. 2.30% of the stock is owned by company insiders.

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.