Fidelity Management & Research Co recently announced the acquisition of new stake in OptiNose Inc. (NASDAQ:OPTN). The institutional investor has increased its shareholding in the Healthcare company by 1.42% to 14.85 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 13.29% valued currently at $25.4 million. In addition, Great Point Partners LLC raised its holdings by 7.89 million to 7.89 million shares. And Velan Capital Investment Manageme has lifted its position by 60.66% or 1.32 million shares – to 3.5 million shares.
With over 1.22 million OptiNose Inc. (OPTN) shares trading Tuesday and a closing price of $1.48 on the day, the dollar volume was approximately $1.8 million. The shares have shown a negative half year performance of -22.11% and its price on 05/23/23 gained nearly 12.12%. Currently, there are 111.77M common shares owned by the public and among those 63.99M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for OPTN have a consensus price objective of $4.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $3.00. The average price target is 63.0% above its recent price level and an upside to the estimated low will see the stock gain 50.67% over that period. But an upside of 70.4% will see the stock hit the forecast high price target while median target price for the stock is $4.00.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 2,885,669 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 279,986 shares.
The top 3 mutual fund holders in OptiNose Inc. are Fidelity Growth Company Fund, FCP Medical – BioHealth, and Vanguard Total Stock Market ETF. Fidelity Growth Company Fund owns 4.76 million shares of the company’s stock, all valued at over $8.14 million. The company sold 23770.0 shares recently to bring their total holdings to about 4.26% of the shares outstanding. FCP Medical – BioHealth bought 0.78 million shares to see its total holdings expand to 2.57 million shares valued at over $4.39 million and representing 2.30% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 2.07% of the shares outstanding.
Shares of OptiNose Inc. (NASDAQ: OPTN) opened at $1.33, up $0.01 from a prior closing price of $1.32. However, the script later moved the day high at 1.5050, up 12.12%. The company’s stock has a 5-day price change of -21.28% and -12.43% over the past three months. OPTN shares are trading -20.00% year to date (YTD), with the 12-month market performance down to -23.71% lower. It has a 12-month low price of $1.24 and touched a high of $4.30 over the same period. OPTN has an average intraday trading volume of 222.74K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -17.86%, -19.62%, and -38.45% respectively.
Institutional ownership of OptiNose Inc. (NASDAQ: OPTN) shares accounts for 74.80% of the company’s 111.77M shares outstanding. Mutual fund holders own 28.07%, while other institutional holders and individual stakeholders account for 28.58% and 17.98% respectively.
It has a market capitalization of $204.55M and a beta (3y monthly) value of -0.24. The earnings-per-share (ttm) stands at -$0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.20% over the week and 9.47% over the month.
Analysts forecast that OptiNose Inc. (OPTN) will achieve an EPS of -$0.11 for the current quarter, -$0.11 for the next quarter and -$0.24 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 39.80%, and 47.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate OptiNose Inc. (OPTN) as a “Strong Buy” at a consensus score of 1.70. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 0 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
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