Geode Capital Management LLC Has $576,000 Stake in OptiNose, Inc. (NASDAQ:OPTN)

Geode Capital Management LLC reduced its position in shares of OptiNose, Inc. (NASDAQ:OPTN) by 93.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,167 shares of the company’s stock after selling 1,212,166 shares during the period. Geode Capital Management LLC owned about 0.86% of OptiNose worth $576,000 at the end of the most recent quarter.

Separately, State Street Corp boosted its position in OptiNose by 14.2% during the 3rd quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after acquiring an additional 42,500 shares during the last quarter. 85.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Lake Street Capital downgraded shares of OptiNose from a “buy” rating to a “hold” rating and lowered their price objective for the company from $17.00 to $9.00 in a report on Thursday, March 20th. HC Wainwright restated a “neutral” rating and set a $9.00 price objective (down from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 target price (down previously from $15.00) on shares of OptiNose in a research report on Friday, March 21st.

Insider Activity

In related news, CEO Ramy A. Mahmoud sold 6,376 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $5.29, for a total transaction of $33,729.04. Following the transaction, the chief executive officer now directly owns 126,931 shares of the company’s stock, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 8,213 shares of company stock valued at $43,643 over the last three months. Insiders own 2.30% of the company’s stock.

OptiNose Trading Up 0.1 %

Shares of OPTN opened at $9.40 on Friday. The company has a market cap of $95.19 million, a price-to-earnings ratio of -2.24 and a beta of -0.87. The company’s fifty day simple moving average is $8.01 and its 200 day simple moving average is $7.61. OptiNose, Inc. has a 1-year low of $4.82 and a 1-year high of $20.03.

OptiNose (NASDAQ:OPTN) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.67. The firm had revenue of $21.47 million for the quarter, compared to analyst estimates of $21.02 million. As a group, research analysts forecast that OptiNose, Inc. will post -3.22 earnings per share for the current year.

OptiNose 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.