Renaissance Technologies LLC Trims Stock Position in OptiNose, Inc. (NASDAQ:OPTN)

Renaissance Technologies LLC cut its stake in OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 94.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,748 shares of the company's stock after selling 214,252 shares during the period. Renaissance Technologies LLC owned 0.13% of OptiNose worth $85,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC boosted its stake 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 valued at $870,000 after purchasing an additional 326,918 shares during the last quarter. 85.60% of the stock is owned by hedge funds and other institutional investors.

OptiNose Stock Down 0.1%

OPTN stock traded down $0.01 during midday trading on Tuesday, reaching $9.41. 334 shares of the company's stock traded hands, compared to its average volume of 59,150. OptiNose, Inc. has a 52 week low of $4.82 and a 52 week high of $20.03. The company has a market cap of $95.30 million, a price-to-earnings ratio of -2.24 and a beta of -0.88. The firm's fifty day moving average price is $8.47 and its 200-day moving average price is $7.46.

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, topping analysts' consensus estimates of ($0.70) by $0.67. The business had revenue of $21.47 million during the quarter, compared to analyst estimates of $21.02 million. Analysts forecast that OptiNose, Inc. will post -3.22 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity

In other OptiNose 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 value of $33,729.04. Following the completion of the sale, the chief executive officer now owns 126,931 shares in the company, valued at approximately $671,464.99. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 8,213 shares of company stock worth $43,643 over the last quarter. Insiders own 2.30% of the company's stock.

OptiNose Company 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.