OptiNose (NASDAQ:OPTN) Sees Unusually-High Trading Volume – Should You Buy?

OptiNose, Inc. (NASDAQ:OPTN) saw unusually-strong trading volume on Tuesday . Approximately 53,015 shares changed hands during mid-day trading, an increase of 2% from the previous session’s volume of 51,968 shares.The stock last traded at $6.75 and had previously closed at $6.20.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of OptiNose in a research note on Wednesday, November 13th. Piper Sandler lowered their price objective on OptiNose from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th.

OptiNose Stock Up 7.8 %

The firm has a market capitalization of $1.01 billion, a P/E ratio of -23.86 and a beta of -0.16. The firm’s 50-day simple moving average is $8.01 and its 200-day simple moving average is $11.97.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in OptiNose during the second quarter valued at about $88,000. GSA Capital Partners LLP bought a new stake in OptiNose in the 3rd quarter worth approximately $61,000. Squarepoint Ops LLC boosted its stake in OptiNose by 173.7% in the second quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock worth $178,000 after buying an additional 108,903 shares in the last quarter. State Street Corp boosted its stake in OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock worth $229,000 after buying an additional 42,500 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of OptiNose by 15.4% during the third quarter. Rice Hall James & Associates LLC now owns 1,140,626 shares of the company’s stock worth $764,000 after acquiring an additional 152,435 shares in the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.

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.