Nantahala Capital Management LLC Decreases Position in OptiNose, Inc. (NASDAQ:OPTN)

Nantahala Capital Management LLC reduced its position in shares of OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 93.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 986,031 shares of the company's stock after selling 13,370,672 shares during the period. Nantahala Capital Management LLC owned 9.80% of OptiNose worth $6,587,000 as of its most recent SEC filing.

Separately, Geode Capital Management LLC grew its position in shares of OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company's stock worth $870,000 after buying an additional 326,918 shares during the last quarter. 85.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the firm'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 completion of the transaction, the chief executive officer now owns 126,931 shares of the company's stock, valued at $671,464.99. This trade represents a 4.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 8,213 shares of company stock worth $43,643. Insiders own 2.30% of the company's stock.

OptiNose Stock Performance

Shares of NASDAQ OPTN traded up $0.01 during mid-day trading on Friday, hitting $9.40. 21,187 shares of the stock traded hands, compared to its average volume of 61,009. The stock has a fifty day moving average price of $8.01 and a 200-day moving average price of $7.61. The company has a market cap of $95.19 million, a price-to-earnings ratio of -2.24 and a beta of -0.88. OptiNose, Inc. has a 52 week low of $4.82 and a 52 week high of $20.03.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on OPTN shares. Lake Street Capital lowered OptiNose from a "buy" rating to a "hold" rating and dropped their price target for the stock from $17.00 to $9.00 in a research note on Thursday, March 20th. HC Wainwright restated a "neutral" rating and issued a $9.00 price objective (down from $18.00) on shares of OptiNose in a report on Friday, March 21st. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down previously from $15.00) on shares of OptiNose in a research note on Friday, March 21st.

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.