OptiNose (NASDAQ:OPTN) Trading 8.2% Higher Following Insider Buying Activity

OptiNose Inc (NASDAQ:OPTN)’s stock price traded up 8.2% during trading on Tuesday following insider buying activity. The stock traded as high as $9.38 and last traded at $9.35, 200,000 shares changed hands during mid-day trading. A decline of 6% from the average session volume of 212,652 shares. The stock had previously closed at $8.64.

Specifically, major shareholder Avista Capital Partners Ii Gp, sold 1,250,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $9.17, for a total value of $11,462,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph C. Scodari bought 6,100 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was bought at an average cost of $8.64 per share, with a total value of $52,704.00. Corporate insiders own 44.30% of the company’s stock.

A number of brokerages have recently issued reports on OPTN. Zacks Investment Research raised OptiNose from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. ValuEngine cut OptiNose from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, BMO Capital Markets dropped their target price on OptiNose from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. OptiNose presently has a consensus rating of “Buy” and an average target price of $21.50.

The stock has a fifty day moving average of $9.08 and a two-hundred day moving average of $7.40. The stock has a market capitalization of $352.20 million, a price-to-earnings ratio of -3.49 and a beta of 0.74. The company has a current ratio of 4.81, a quick ratio of 4.66 and a debt-to-equity ratio of 1.67.

OptiNose (NASDAQ:OPTN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.69) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.69). OptiNose had a negative return on equity of 137.60% and a negative net margin of 419.37%. The firm had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $8.56 million. Equities analysts expect that OptiNose Inc will post -2.71 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Tamarack Advisers LP acquired a new stake in OptiNose during the 3rd quarter valued at $4,725,000. Massachusetts Financial Services Co. MA increased its holdings in OptiNose by 18.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,033,499 shares of the company’s stock valued at $7,234,000 after purchasing an additional 160,664 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in OptiNose during the 3rd quarter valued at $117,000. BlackRock Inc. increased its holdings in OptiNose by 15.9% during the 2nd quarter. BlackRock Inc. now owns 1,918,914 shares of the company’s stock valued at $13,586,000 after purchasing an additional 263,667 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in OptiNose during the 2nd quarter valued at $82,000. 68.31% of the stock is owned by hedge funds and other institutional investors.

OptiNose Company Profile (NASDAQ:OPTN)

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, and throat; and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary optinose exhalation delivery system that delivers a topically-acting and anti-inflammatory corticosteroid for the treatment of chronic rhinosinusitis with and without nasal polyps.

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