Opus Genetics, Inc. (NASDAQ:IRD) Short Interest Up 31.5% in January

Opus Genetics, Inc. (NASDAQ:IRD) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 957,806 shares, an increase of 31.5% from the December 31st total of 728,362 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 463,062 shares, the short-interest ratio is currently 2.1 days. Based on an average daily volume of 463,062 shares, the short-interest ratio is currently 2.1 days. Approximately 1.5% of the company’s stock are sold short.

Opus Genetics Trading Up 3.4%

Opus Genetics stock opened at $2.40 on Wednesday. The business has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $1.80. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $3.05. The stock has a market cap of $165.50 million, a price-to-earnings ratio of -1.28 and a beta of 0.58.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $3.07 million. Opus Genetics had a negative return on equity of 697.94% and a negative net margin of 466.09%. As a group, equities analysts forecast that Opus Genetics will post -1.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on IRD shares. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Piper Sandler assumed coverage on Opus Genetics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price objective on the stock. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Opus Genetics in a report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Insider Transactions at Opus Genetics

In related news, Director Fighting Blindness Foundation sold 4,000,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the completion of the sale, the director directly owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. This represents a 42.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Cam Gallagher bought 83,000 shares of the stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the transaction, the director directly owned 83,000 shares of the company’s stock, valued at approximately $163,510. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. increased its holdings in shares of Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after buying an additional 11,000 shares in the last quarter. Voss Capital LP grew its position in Opus Genetics by 3.9% during the 3rd quarter. Voss Capital LP now owns 562,377 shares of the company’s stock worth $928,000 after acquiring an additional 21,218 shares during the last quarter. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter valued at $29,000. Mink Brook Asset Management LLC increased its holdings in Opus Genetics by 3.4% during the 3rd quarter. Mink Brook Asset Management LLC now owns 1,237,947 shares of the company’s stock valued at $2,043,000 after purchasing an additional 40,331 shares in the last quarter. Finally, Opaleye Management Inc. raised its position in Opus Genetics by 3.8% in the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock valued at $1,149,000 after purchasing an additional 45,000 shares during the last quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.

Opus Genetics Company Profile

Opus Genetics Inc is a clinical-stage ophthalmic biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of unmet needs of patients with refractive and retinal eye disorders. Opus Genetics Inc, formerly known as Ocuphire Pharma Inc, is based in Farmington Hills, Michigan.