Susquehanna International Group LLP Lowers Stock Position in Opus Genetics, Inc. $IRD

Susquehanna International Group LLP reduced its position in shares of Opus Genetics, Inc. (NASDAQ:IRD) by 78.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 196,897 shares of the company’s stock after selling 707,886 shares during the period. Susquehanna International Group LLP’s holdings in Opus Genetics were worth $809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank purchased a new stake in Opus Genetics in the 1st quarter valued at about $29,000. Royal Bank of Canada purchased a new position in shares of Opus Genetics in the 1st quarter worth approximately $299,000. Nantahala Capital Management LLC grew its holdings in shares of Opus Genetics by 6.0% in the second quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock valued at $3,152,000 after acquiring an additional 188,028 shares in the last quarter. Mink Brook Asset Management LLC grew its holdings in shares of Opus Genetics by 47.8% in the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock valued at $1,128,000 after acquiring an additional 387,536 shares in the last quarter. Finally, Opaleye Management Inc. increased its position in shares of Opus Genetics by 3.8% during the second quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock valued at $1,149,000 after acquiring an additional 45,000 shares during the last quarter. 14.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Opus Genetics

In related news, CEO George Magrath sold 9,475 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total transaction of $27,951.25. Following the sale, the chief executive officer directly owned 1,731,869 shares in the company, valued at approximately $5,109,013.55. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,331 shares of company stock valued at $86,629 in the last three months. 11.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Chardan Capital reiterated a “buy” rating and set a $13.00 price target on shares of Opus Genetics in a report on Monday, July 6th. Leerink Partners started coverage on Opus Genetics in a research report on Thursday, May 21st. They set an “outperform” rating and a $10.00 target price for the company. Zacks Research raised shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and issued a $12.00 target price on shares of Opus Genetics in a research note on Monday, July 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Opus Genetics has a consensus rating of “Moderate Buy” and an average price target of $10.69.

Opus Genetics Stock Down 1.9%

NASDAQ IRD opened at $3.62 on Tuesday. The firm has a market cap of $299.19 million, a P/E ratio of -2.68 and a beta of 0.59. The company’s 50 day moving average is $3.73 and its 200-day moving average is $4.25. Opus Genetics, Inc. has a 12-month low of $1.17 and a 12-month high of $5.81.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Opus Genetics had a negative net margin of 1,091.82% and a negative return on equity of 338.88%. The business had revenue of $0.76 million during the quarter, compared to analyst estimates of $2.63 million. Equities analysts expect that Opus Genetics, Inc. will post -0.99 EPS 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.