Easterly Investment Partners LLC Sells 2,312,572 Shares of OptiNose, Inc. (NASDAQ:OPTN)

Easterly Investment Partners LLC reduced its stake in shares of OptiNose, Inc. (NASDAQ:OPTN) by 98.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,667 shares of the company’s stock after selling 2,312,572 shares during the period. Easterly Investment Partners LLC’s holdings in OptiNose were worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in OPTN. Massachusetts Financial Services Co. MA raised its stake in shares of OptiNose by 5.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,075,638 shares of the company’s stock valued at $2,061,000 after acquiring an additional 155,329 shares in the last quarter. FMR LLC grew its holdings 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 purchasing an additional 518,610 shares during the last quarter. State Street Corp raised its position in shares of OptiNose by 14.2% in the third quarter. State Street Corp now owns 341,303 shares of the company’s stock valued at $229,000 after purchasing an additional 42,500 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of OptiNose by 33.7% in the third quarter. Geode Capital Management LLC now owns 1,298,333 shares of the company’s stock worth $870,000 after buying an additional 326,918 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.

OptiNose Trading Down 0.3 %

Shares of OPTN stock opened at $9.14 on Friday. The firm has a market capitalization of $91.95 million, a P/E ratio of -2.18 and a beta of -0.30. OptiNose, Inc. has a 1 year low of $4.82 and a 1 year high of $22.50. The firm’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $8.02.

OptiNose (NASDAQ:OPTN) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.67. The firm had revenue of $21.47 million during the quarter, compared to analyst estimates of $21.02 million. Equities research analysts anticipate that OptiNose, Inc. will post -3.22 EPS for the current fiscal year.

Insider Activity

In other OptiNose news, CEO Ramy A. Mahmoud sold 6,376 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 126,931 shares in the company, valued at $671,464.99. This represents a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last three months, insiders have sold 8,213 shares of company stock worth $43,643. Corporate insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on OPTN shares. HC Wainwright reiterated a “neutral” rating and issued a $9.00 target price (down from $18.00) on shares of OptiNose in a research note on Friday, March 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price target (down from $15.00) 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 cut their price objective for the stock from $17.00 to $9.00 in a research report on Thursday, March 20th.

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.