Opus Genetics, Inc. (NASDAQ:IRD) Short Interest Update
by Tristan Rich · The Markets DailyOpus Genetics, Inc. (NASDAQ:IRD – Get Free Report) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 942,054 shares, an increase of 41.8% from the January 29th total of 664,201 shares. Based on an average daily trading volume, of 1,305,670 shares, the short-interest ratio is currently 0.7 days. Approximately 1.5% of the company’s stock are sold short. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,305,670 shares, the short-interest ratio is currently 0.7 days.
Opus Genetics Trading Up 15.9%
NASDAQ:IRD traded up $0.57 during trading hours on Friday, reaching $4.16. 1,227,926 shares of the stock were exchanged, compared to its average volume of 1,077,028. The business has a 50-day moving average of $2.65 and a two-hundred day moving average of $2.08. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $4.17. The company has a market capitalization of $286.87 million, a price-to-earnings ratio of -2.21 and a beta of 0.58. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on IRD shares. Chardan Capital reaffirmed a “buy” rating and set a $9.00 target price on shares of Opus Genetics in a research report on Thursday, November 13th. B. Riley Financial began coverage on Opus Genetics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $7.00 target price on shares of Opus Genetics in a report on Wednesday, January 28th. Piper Sandler started coverage on Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price target on the stock. Finally, Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Opus Genetics currently has an average rating of “Buy” and an average price target of $7.75.
Get Our Latest Analysis on Opus Genetics
Insider Activity at Opus Genetics
In other Opus Genetics news, Director Cam Gallagher bought 83,000 shares of Opus Genetics stock in a transaction on Monday, December 29th. The stock was acquired at an average cost of $1.97 per share, with a total value of $163,510.00. Following the completion of the acquisition, the director owned 83,000 shares in the company, valued at approximately $163,510. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics 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 transaction, the director owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.
Hedge Funds Weigh In On Opus Genetics
Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank purchased a new stake in Opus Genetics during the 1st quarter valued at approximately $29,000. Royal Bank of Canada acquired a new stake in shares of Opus Genetics in the 1st quarter worth approximately $299,000. BIOS Capital Management LP raised its holdings in Opus Genetics by 270.1% during the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,688,180 shares during the last quarter. Voss Capital LP grew its stake in Opus Genetics by 260.8% in the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after acquiring an additional 391,159 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its stake in shares of Opus Genetics by 6.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock worth $3,152,000 after purchasing an additional 188,028 shares in the last quarter. 14.97% of the stock is currently owned by hedge funds and other institutional investors.
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.