OptiNose, Inc. (NASDAQ:OPTN) Chief Legal Officer & Corporate Secretary Michael F. Marino III recently engaged in transactions involving the company's stock, according to a new SEC filing. Marino sold shares worth over $28,000, while also acquiring a significant number of shares through the vesting of restricted stock units.
On March 18, Marino sold 15,059 shares of OptiNose common stock at an average price of $1.88 per share, totaling approximately $28,310. This sale was related to the vesting of restricted share units under the company's equity incentive plan. According to the filing, the shares were sold to cover tax withholding obligations and were not discretionary trades by Marino.
In addition to the sale, Marino also acquired 3,816 shares of common stock at no cost on March 15, as part of the vesting of performance-based restricted stock units (Performance RSUs) granted in March 2020. These Performance RSUs were part of an award that vested partially in June 2022 upon the achievement of certain milestones related to the company's development programs, with the balance vesting in eight equal quarterly installments, contingent upon continued service with the issuer.
Following these transactions, Marino's ownership in OptiNose stands at 602,268 shares of common stock. The recent activity in OptiNose shares by a top executive may be of interest to investors monitoring insider trading patterns within the pharmaceutical preparations industry.
OptiNose, based in Yardley, Pennsylvania, specializes in pharmaceutical preparations and has been active in developing innovative products in the healthcare space. The company's stock trades on the NASDAQ under the ticker symbol OPTN.
InvestingPro Insights
As investors assess the implications of insider trading activity at OptiNose, Inc. (NASDAQ:OPTN), examining the company's financial health and market performance can provide additional context. According to the latest data from InvestingPro, OptiNose boasts an impressive gross profit margin of 87.84% for the last twelve months as of Q4 2023. This indicates a strong ability to generate revenue over the cost of goods sold, which can be a positive signal for investors looking at the company's operational efficiency.
Despite the robust gross profit margins, OptiNose has experienced a revenue decline of 6.93% over the same period. This could be a point of concern for investors as it might reflect challenges in sales growth or market competition. Additionally, the stock's price has seen significant volatility, with a price total return of 41.76% over the last month and 68.26% over the last three months as of the most recent data. This level of performance suggests that while the stock has had strong recent returns, it may also be subject to sharp fluctuations that investors should be mindful of.
InvestingPro Tips further reveal that OptiNose's stock price often moves in the opposite direction of the market, which could indicate a non-correlated investment opportunity for portfolio diversification. However, analysts do not anticipate the company will be profitable this year, and short-term obligations exceed liquid assets, which could pose liquidity risks.
For investors interested in a deeper dive into OptiNose's financials and market performance, InvestingPro offers additional insights. There are currently 8 more InvestingPro Tips available, which can be accessed at: https://www.investing.com/pro/OPTN. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, further empowering your investment decisions with comprehensive data and expert analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.