OptiNose Stock Scheduled to Reverse Split on Tuesday, December 31st (NASDAQ:OPTN)

Shares of OptiNose, Inc. (NASDAQ:OPTN) are going to reverse split before the market opens on Tuesday, December 31st. The 1-15 reverse split was announced on Thursday, December 26th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

OptiNose Trading Up 10.3 %

OptiNose stock opened at $0.42 on Friday. OptiNose has a 12-month low of $0.32 and a 12-month high of $2.10. The firm has a market capitalization of $63.35 million, a price-to-earnings ratio of -1.50 and a beta of -0.16. The firm has a 50 day moving average of $0.57 and a 200 day moving average of $0.83.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of OptiNose from $3.00 to $1.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of OptiNose in a research report on Wednesday, November 13th.

Hedge Funds Weigh In On OptiNose

Several hedge funds have recently modified their holdings of OPTN. FMR LLC grew its stake in OptiNose by 3.2% during the third quarter. FMR LLC now owns 16,541,849 shares of the company’s stock valued at $11,083,000 after acquiring an additional 518,610 shares in the last quarter. Great Point Partners LLC grew its position in shares of OptiNose by 56.2% during the second quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock valued at $14,276,000 after purchasing an additional 4,940,779 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of OptiNose by 442.3% in the second 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 during the last quarter. Rosalind Advisors Inc. increased its holdings in shares of OptiNose by 9.8% in the third quarter. Rosalind Advisors Inc. now owns 8,287,503 shares of the company’s stock worth $5,553,000 after purchasing an additional 740,355 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its position in shares of OptiNose by 142.1% in the third quarter. Stonepine Capital Management LLC now owns 5,688,590 shares of the company’s stock worth $3,811,000 after buying an additional 3,338,580 shares in the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.

About OptiNose

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.