Geode Capital Management LLC Sells 1,212,166 Shares of OptiNose, Inc. (NASDAQ:OPTN)

Geode Capital Management LLC trimmed its holdings in OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 93.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,167 shares of the company's stock after selling 1,212,166 shares during the quarter. Geode Capital Management LLC owned about 0.86% of OptiNose worth $576,000 at the end of the most recent reporting period.

Separately, State Street Corp grew its holdings in shares of OptiNose by 14.2% during the third quarter. State Street Corp now owns 341,303 shares of the company's stock valued at $229,000 after buying an additional 42,500 shares in the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.

OptiNose Stock Performance

Shares of OPTN traded down $0.04 during mid-day trading on Tuesday, hitting $9.38. The company's stock had a trading volume of 22,804 shares, compared to its average volume of 60,641. OptiNose, Inc. has a one year low of $4.82 and a one year high of $20.03. The stock's 50-day moving average is $8.09 and its two-hundred day moving average is $7.54. The firm has a market capitalization of $94.99 million, a PE ratio of -2.23 and a beta of -0.88.

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

Analysts Set New Price Targets

A number of research firms have issued reports on OPTN. Lake Street Capital downgraded shares of OptiNose from a "buy" rating to a "hold" rating and cut their target price for the stock from $17.00 to $9.00 in a research report on Thursday, March 20th. Piper Sandler reaffirmed a "neutral" rating and issued a $9.00 price objective (down previously from $15.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, HC Wainwright reissued 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.

Insider Transactions at OptiNose

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the business's stock in a transaction on 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 owns 126,931 shares of the company's stock, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have sold 8,213 shares of company stock valued at $43,643. 2.30% of the stock is owned by insiders.

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.