Opus Genetics, Inc. (NASDAQ:IRD) Short Interest Update

Opus Genetics, Inc. (NASDAQ:IRD) saw a large increase in short interest in 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. Based on an average trading volume of 463,062 shares, the short-interest ratio is currently 2.1 days. Currently, 1.5% of the shares of the stock are short sold. Currently, 1.5% of the shares of the stock are short sold. Based on an average trading volume of 463,062 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

IRD has been the topic of several analyst reports. Piper Sandler assumed coverage on Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price objective on the stock. Brookline Capital Management upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Chardan Capital reiterated a “buy” rating and issued a $9.00 price objective on shares of Opus Genetics in a report on Thursday, November 13th. BTIG Research reissued a “buy” rating and issued a $7.00 price target on shares of Opus Genetics in a research report on Wednesday, January 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $7.75.

Insider Transactions at Opus Genetics

In other 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 transaction of $8,600,000.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cam Gallagher acquired 83,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the purchase, the director owned 83,000 shares of the company’s stock, valued at $163,510. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRD. Comerica Bank purchased a new position in Opus Genetics during the 1st quarter worth $29,000. Raymond James Financial Inc. grew its position in shares of Opus Genetics by 95.6% during the 3rd 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. Two Sigma Investments LP increased its stake in shares of Opus Genetics by 169.6% during the third quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock valued at $179,000 after buying an additional 68,148 shares during the period. Citadel Advisors LLC raised its holdings in shares of Opus Genetics by 496.9% in the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock valued at $187,000 after acquiring an additional 94,416 shares in the last quarter. Finally, Creative Planning purchased a new stake in Opus Genetics in the third quarter worth about $212,000. Institutional investors own 14.97% of the company’s stock.

Opus Genetics Price Performance

Opus Genetics stock traded up $0.01 during midday trading on Monday, reaching $2.32. 493,762 shares of the stock traded hands, compared to its average volume of 691,817. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $3.05. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock’s fifty day moving average is $2.18 and its 200-day moving average is $1.78. The stock has a market cap of $160.00 million, a P/E ratio of -1.23 and a beta of 0.41.

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

About Opus Genetics

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.