Short Interest in OptiNose, Inc. (NASDAQ:OPTN) Sees a 16.2% Increase

OptiNose, Inc. (NASDAQ:OPTN) experienced a notable rise in short interest during January. By January 31st, the total short interest reached 247,800 shares, which represents an increase of 16.2% from the 213,300 shares recorded on January 15th. Presently, about 3.1% of the company’s shares are short sold. With an average daily trading volume of 65,200 shares, the short-interest ratio now stands at 3.8 days.

Recent Stock Performance

On Friday, shares of OptiNose traded up by $0.38, bringing the share price to $6.00. A total of 23,563 shares changed hands, which is higher than the average volume of 47,458 shares. The stock has a 52-week low of $4.82 and a high of $31.50. The market capitalization of OptiNose is approximately $60.36 million, and it currently has a negative price-to-earnings ratio of -1.43, along with a beta of -0.17. The company’s fifty-day moving average is $6.23, while the 200-day moving average is $9.61.

Institutional Investor Activity

Several institutional investors and hedge funds have recently adjusted their stakes in OptiNose. For example, Rice Hall James & Associates LLC increased its shareholdings by 15.4% in the third quarter, now owning 1,140,626 shares valued at $764,000 after acquiring an additional 152,435 shares in that period. Similarly, Rosalind Advisors Inc. raised its position by 9.8% during the same quarter, now holding 8,287,503 shares worth $5,553,000 after purchasing an additional 740,355 shares. Easterly Investment Partners LLC expanded its holdings by 5.0%, owning now 2,359,239 shares valued at $1,581,000 after acquiring 113,015 shares. GSA Capital Partners LLP established a new position valued at approximately $61,000 in the third quarter. Massachusetts Financial Services Co. MA boosted its holdings by 5.3%, now owning 3,075,638 shares valued at $2,061,000 after buying 155,329 additional shares. Overall, institutional investors and hedge funds collectively own approximately 85.60% of OptiNose stock.

Analysts Update Price Targets

OptiNose has received attention from various analysts regarding its stock performance. Piper Sandler recently lowered its price target from $45.00 to $15.00 while maintaining an “overweight” rating on the stock as of November 13th. HC Wainwright raised its price target from $5.00 to $18.00, rating it “buy” on January 3rd. Lake Street Capital also lowered its price target from $45.00 to $17.00, reaffirming a “buy” rating on January 16th.

Company Overview

OptiNose, Inc. is a specialty pharmaceutical company that focuses on developing and commercializing products for patients managed by ear, nose, throat, and allergy specialists in the United States. Among its offerings is XHANCE, a product that employs a proprietary exhalation delivery system to provide a corticosteroid treatment for chronic rhinosinusitis with nasal polyps. The company is also currently conducting a Phase IIIb clinical trial aimed at treating chronic sinusitis and offers Onzetra Xsail, a powder delivery device.

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