Piper Sandler Cuts OptiNose (NASDAQ:OPTN) Price Target to $1.00

OptiNose (NASDAQ:OPTN) had its target price trimmed by Piper Sandler from $3.00 to $1.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of OptiNose in a research report on Wednesday.

OptiNose Trading Down 4.4 %

OPTN opened at $0.44 on Wednesday. OptiNose has a 1 year low of $0.41 and a 1 year high of $2.10. The business’s 50-day moving average is $0.73 and its two-hundred day moving average is $0.95.

Institutional Trading of OptiNose

Several large investors have recently made changes to their positions in OPTN. Nantahala Capital Management LLC boosted its position in OptiNose by 442.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 13,418,740 shares of the company’s stock worth $14,425,000 after purchasing an additional 10,944,444 shares in the last quarter. Great Point Partners LLC boosted its stake in shares of OptiNose by 56.2% during the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock worth $14,276,000 after acquiring an additional 4,940,779 shares in the last quarter. Stonepine Capital Management LLC increased its stake in shares of OptiNose by 142.1% in the 3rd quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,338,580 shares in the last quarter. Rosalind Advisors Inc. increased its stake in shares of OptiNose by 66.2% in the 2nd quarter. Rosalind Advisors Inc. now owns 7,547,148 shares of the company’s stock valued at $7,849,000 after purchasing an additional 3,005,659 shares in the last quarter. Finally, FMR LLC raised its holdings in OptiNose by 3.2% in the 3rd quarter. FMR LLC now owns 16,541,849 shares of the company’s stock worth $11,083,000 after purchasing an additional 518,610 shares during the period. 85.60% of the stock is owned by hedge funds and other institutional investors.

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.