OptiNose, Inc. (NASDAQ:OPTN) Shares Sold by MVM Partners LLC

MVM Partners LLC reduced its position in OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 93.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 973,684 shares of the company's stock after selling 13,631,579 shares during the period. OptiNose comprises about 5.1% of MVM Partners LLC's portfolio, making the stock its 3rd biggest holding. MVM Partners LLC owned about 9.68% of OptiNose worth $6,363,000 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 3rd quarter. State Street Corp now owns 341,303 shares of the company's stock worth $229,000 after purchasing an additional 42,500 shares during the period. 85.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $5.29, for a total transaction of $33,729.04. Following the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is available at this link. In the last three months, insiders sold 8,213 shares of company stock valued at $43,643. Company insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

OPTN has been the topic of a number of recent analyst reports. Lake Street Capital cut shares of 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 report on Thursday, March 20th. HC Wainwright reissued a "neutral" rating and set a $9.00 target price (down previously from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $9.00 price objective (down previously from $15.00) on shares of OptiNose in a research report on Friday, March 21st.

OptiNose Price Performance

OptiNose stock traded down $0.02 during mid-day trading on Tuesday, reaching $9.40. The company had a trading volume of 19,741 shares, compared to its average volume of 60,630. The company has a market capitalization of $95.19 million, a P/E ratio of -2.24 and a beta of -0.88. OptiNose, Inc. has a 1 year low of $4.82 and a 1 year high of $20.03. The stock's 50-day simple moving average is $8.09 and its 200-day simple moving average is $7.54.

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

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.