OptiNose, Inc. (NASDAQ:OPTN) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC significantly reduced its stake in OptiNose, Inc. (NASDAQ:OPTN) by 94.4% in Q4, now holding 12,748 shares valued at $85,000. In contrast, Geode Capital Management increased its stake by 33.7%. CEO Ramy A. Mahmoud sold 6,376 shares, decreasing his ownership by 4.78%. OptiNose's stock opened at $9.40, with a market cap of $95.19 million. Analysts have downgraded their target prices, with Piper Sandler and HC Wainwright setting a target of $9.00. The company reported earnings of ($0.03) per share, exceeding estimates.
Renaissance Technologies LLC decreased its stake in OptiNose, Inc. (NASDAQ:OPTN - Free Report) by 94.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,748 shares of the company's stock after selling 214,252 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of OptiNose worth $85,000 as of its most recent SEC filing.
Separately, Geode Capital Management LLC boosted its position in OptiNose by 33.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company's stock worth $870,000 after purchasing an additional 326,918 shares in the last quarter. Institutional investors and hedge funds own 85.60% of the company's stock.
Insider Buying and Selling at OptiNose
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 completion of the sale, the chief executive officer now directly owns 126,931 shares in the company, valued at approximately $671,464.99. The trade was a 4.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 8,213 shares of company stock valued at $43,643 over the last quarter. 2.30% of the stock is currently owned by insiders.
OptiNose Price Performance
Shares of OPTN stock opened at $9.40 on Thursday. The stock has a 50 day simple moving average of $8.23 and a 200-day simple moving average of $7.57. OptiNose, Inc. has a 1-year low of $4.82 and a 1-year high of $20.03. The company has a market cap of $95.19 million, a price-to-earnings ratio of -2.24 and a beta of -0.88.
OptiNose (NASDAQ:OPTN - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.70) by $0.67. The company had revenue of $21.47 million for the quarter, compared to analyst estimates of $21.02 million. Analysts anticipate that OptiNose, Inc. will post -3.22 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on OPTN. Piper Sandler reaffirmed a "neutral" rating and set a $9.00 target price (down from $15.00) on shares of OptiNose in a report on Friday, March 21st. HC Wainwright reiterated a "neutral" rating and issued a $9.00 price objective (down previously from $18.00) on shares of OptiNose in a research report on Friday, March 21st. Finally, Lake Street Capital cut OptiNose from a "buy" rating to a "hold" rating and dropped their target price for the company from $17.00 to $9.00 in a research report on Thursday, March 20th.
Get Our Latest Analysis on OPTN
OptiNose Company Profile
(Free Report)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.
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