Short Interest in Opus Genetics, Inc. (NASDAQ:IRD) Increases By 31.5%
by Renee Jackson · The Cerbat GemOpus Genetics, Inc. (NASDAQ:IRD – Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 957,806 shares, a growth of 31.5% from the December 31st total of 728,362 shares. Based on an average daily volume of 463,062 shares, the short-interest ratio is presently 2.1 days. Currently, 1.5% of the company’s stock are sold short. Currently, 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 presently 2.1 days.
Insider Transactions at Opus Genetics
In other news, Director Fighting Blindness Foundation sold 4,000,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. The trade was a 42.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cam Gallagher purchased 83,000 shares of the business’s stock in a transaction on Monday, December 29th. The shares were bought at an average price of $1.97 per share, for a total transaction of $163,510.00. Following the purchase, the director directly owned 83,000 shares in the company, valued at $163,510. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On Opus Genetics
Several hedge funds have recently modified their holdings of the company. Comerica Bank acquired a new stake in Opus Genetics during the first quarter worth approximately $29,000. Raymond James Financial Inc. boosted its holdings in Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after acquiring an additional 11,000 shares during the last quarter. Two Sigma Investments LP grew its position in 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 acquiring an additional 68,148 shares during the period. Citadel Advisors LLC increased its stake in Opus Genetics by 496.9% during the third quarter. Citadel Advisors LLC now owns 113,416 shares of the company’s stock worth $187,000 after acquiring an additional 94,416 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Opus Genetics in the 3rd quarter worth about $212,000. 14.97% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently issued reports on IRD. B. Riley started coverage on Opus Genetics in a report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective for the company. Wall Street Zen upgraded shares of Opus Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Brookline Capital Management raised shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Piper Sandler started coverage on Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, Wedbush started coverage on shares of Opus Genetics in a research note on Wednesday, October 29th. They set an “outperform” rating and a $8.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.75.
Get Our Latest Stock Report on Opus Genetics
Opus Genetics Stock Performance
IRD traded up $0.01 during trading on Monday, hitting $2.32. 493,762 shares of the stock were exchanged, compared to its average volume of 691,817. The firm has a market capitalization of $160.00 million, a P/E ratio of -1.23 and a beta of 0.41. The stock has a fifty day moving average price of $2.18 and a two-hundred day moving average price of $1.78. 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 1-year low of $0.65 and a 1-year high of $3.05.
Opus Genetics (NASDAQ:IRD – Get Free Report) last announced its earnings results on Wednesday, November 12th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The company had revenue of $3.08 million for the quarter, compared to the consensus estimate 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, sell-side analysts predict that Opus Genetics will post -1.22 earnings per share for the current year.
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.