Short Interest in OptiNose, Inc. (NASDAQ:OPTN) Grows By 16.2%

OptiNose, Inc. (NASDAQ:OPTN) experienced a notable rise in short interest during January. By the end of January 31st, the total short interest reached 247,800 shares, which reflects an increase of 16.2% from the total of 213,300 shares on January 15th. Approximately 3.1% of OptiNose's total shares have been short sold. Based on an average daily trading volume of 65,200 shares, the short-interest ratio currently stands at 3.8 days.

OptiNose Stock Performance

On Friday, shares of NASDAQ:OPTN increased by 6.8%, closing at $6.00. A total of 23,563 shares changed hands during the trading session, compared to the average trading volume of 47,458 shares. Over the past year, OptiNose has noted a 52-week low of $4.82 and a 52-week high of $31.50. The company's market capitalization is estimated at $60.36 million, with a price-to-earnings ratio of -1.43 and a beta of -0.17. The fifty-day moving average is recorded at $6.23, while the 200-day moving average is noted at $9.61.

Institutional Investors and Hedge Fund Activity

Recently, several institutional investors and hedge funds have adjusted their stakes in OptiNose. For instance, Rice Hall James & Associates LLC increased its stake by 15.4% during the third quarter, now holding 1,140,626 shares valued at approximately $764,000 after an additional 152,435 shares were purchased. Rosalind Advisors Inc. also raised their position by 9.8% in the same quarter, accumulating 8,287,503 shares worth $5,553,000 after acquiring 740,355 shares. Likewise, Easterly Investment Partners LLC saw a 5.0% increase, resulting in a total of 2,359,239 shares valued at $1,581,000. GSA Capital Partners LLP entered a new position during the third quarter valued around $61,000. Massachusetts Financial Services Co. MA enhanced its holdings by 5.3%, now owning 3,075,638 shares valued at about $2,061,000 after acquiring an additional 155,329 shares. Institutional investors and hedge funds collectively own approximately 85.60% of OptiNose stock.

Analyst Recommendations and Price Targets

Recently, OptiNose has been the focus of several research reports. Piper Sandler lowered their price target on OptiNose shares from $45.00 to $15.00 while assigning an "overweight" rating as stated in a research note dated November 13th. HC Wainwright increased their target price from $5.00 to $18.00 and assigned a "buy" rating on January 3rd. Additionally, Lake Street Capital reduced their price target on the stock from $45.00 to $17.00 and classified it as a "buy" in a report issued on January 16th.

OptiNose Company Overview

OptiNose, Inc. is a specialty pharmaceutical company focused on developing and commercializing products catering to patients treated by ear, nose, throat, and allergy specialists in the United States. The company offers XHANCE, which is a therapeutic product that uses its proprietary exhalation delivery system to administer a topically acting corticosteroid for chronic rhinosinusitis with nasal polyps treatment. It is also involved in a Phase IIIb clinical trial for chronic sinusitis treatment and markets Onzetra Xsail, a powdered delivery device.

OptiNose, stocks, short