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

Opus Genetics, Inc. (NASDAQ:IRD) was the recipient of a large increase in short interest in the month of 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. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 1,305,670 shares, the days-to-cover ratio is currently 0.7 days. Based on an average trading volume of 1,305,670 shares, the days-to-cover ratio is currently 0.7 days. Approximately 1.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

IRD has been the subject of a number of research reports. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. BTIG Research increased their price target on Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a report on Monday. Finally, Chardan Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Opus Genetics presently has an average rating of “Buy” and an average target price of $8.38.

Opus Genetics Stock Up 4.1%

Opus Genetics stock traded up $0.17 during trading on Monday, hitting $4.33. 1,280,130 shares of the company were exchanged, compared to its average volume of 1,089,935. The company has a market capitalization of $298.60 million, a P/E ratio of -2.30 and a beta of 0.44. The business’s 50 day moving average is $2.69 and its 200 day moving average is $2.11. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $4.42. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18.

Insider Activity at Opus Genetics

In related news, Director Cam Gallagher bought 83,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was purchased at an average cost of $1.97 per share, for a total transaction of $163,510.00. Following the transaction, the director owned 83,000 shares in the company, valued at $163,510. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the 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 $11,808,167.65. The trade was a 42.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

Hedge funds and other institutional investors have recently modified their holdings of the business. BIOS Capital Management LP lifted its position in shares of 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 acquiring an additional 2,688,180 shares in the last quarter. Voss Capital LP raised its stake in shares of Opus Genetics by 260.8% during the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after purchasing an additional 391,159 shares during the period. State Street Corp raised its stake in shares of Opus Genetics by 18.8% during the 4th quarter. State Street Corp now owns 173,253 shares of the company’s stock valued at $348,000 after purchasing an additional 27,380 shares during the period. Wells Fargo & Company MN lifted its holdings in Opus Genetics by 6,290.3% during the 4th quarter. Wells Fargo & Company MN now owns 241,871 shares of the company’s stock worth $486,000 after purchasing an additional 238,086 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Opus Genetics by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 504,983 shares of the company’s stock worth $1,016,000 after purchasing an additional 36,046 shares during the period. Hedge funds and other institutional investors 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.