Bleichroeder LP Sells 3,775,457 Shares of OptiNose, Inc. (NASDAQ:OPTN)

Bleichroeder LP trimmed its holdings in shares of OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 93.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 269,675 shares of the company's stock after selling 3,775,457 shares during the period. OptiNose accounts for about 0.5% of Bleichroeder LP's investment portfolio, making the stock its 23rd biggest holding. Bleichroeder LP owned approximately 2.68% of OptiNose worth $1,801,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC grew its holdings 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 period. 85.60% of the stock is currently owned by institutional investors.

OptiNose Price Performance

NASDAQ OPTN remained flat at $9.39 on Friday. 8,064 shares of the company were exchanged, compared to its average volume of 59,758. The stock's fifty day moving average price is $8.32 and its two-hundred day moving average price is $7.55. The firm has a market cap of $95.09 million, a price-to-earnings ratio of -2.24 and a beta of -0.88. OptiNose, Inc. has a 12-month low of $4.82 and a 12-month high of $20.03.

OptiNose (NASDAQ:OPTN - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $21.02 million. Research analysts anticipate that OptiNose, Inc. will post -3.22 earnings per share for the current year.

Insider Activity at OptiNose

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the company's 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 sale, the chief executive officer now owns 126,931 shares in the company, 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 link. Over the last ninety days, insiders sold 8,213 shares of company stock valued at $43,643. Insiders own 2.30% of the company's stock.

Analyst Ratings Changes

OPTN has been the topic of several analyst reports. Piper Sandler reiterated a "neutral" rating and issued a $9.00 target price (down from $15.00) on shares of OptiNose in a report on Friday, March 21st. HC Wainwright reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Lake Street Capital cut OptiNose from a "buy" rating to a "hold" rating and decreased their target price for the company from $17.00 to $9.00 in a research note on Thursday, March 20th.

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.