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

Opus Genetics, Inc. (NASDAQ:IRD) was the recipient of a significant 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. Approximately 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,305,670 shares, the short-interest ratio is presently 0.7 days. Based on an average daily trading volume, of 1,305,670 shares, the short-interest ratio is presently 0.7 days. Approximately 1.5% of the shares of the stock are short sold.

Opus Genetics Stock Up 15.9%

Opus Genetics stock traded up $0.57 during midday trading on Friday, reaching $4.16. The stock had a trading volume of 1,227,926 shares, compared to its average volume of 1,077,028. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $4.17. The company has a fifty day moving average price of $2.65 and a two-hundred day moving average price of $2.08. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $286.87 million, a P/E ratio of -2.21 and a beta of 0.58.

Insider Buying and Selling

In other Opus Genetics news, Director Fighting Blindness Foundation sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the transaction, the director directly owned 5,492,171 shares of the company’s stock, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cam Gallagher bought 83,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The shares were bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the completion of the transaction, the director directly owned 83,000 shares in the company, valued at approximately $163,510. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Opus Genetics

Several large investors have recently modified their holdings of IRD. Virtu Financial LLC purchased a new position in shares of Opus Genetics in the fourth quarter valued at $34,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Opus Genetics during the 4th quarter valued at $25,000. Opaleye Management Inc. raised its holdings in shares of Opus Genetics by 1.8% during the 4th quarter. Opaleye Management Inc. now owns 1,120,000 shares of the company’s stock valued at $2,251,000 after buying an additional 20,000 shares in the last quarter. Millennium Management LLC bought a new stake in Opus Genetics in the fourth quarter worth $4,025,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Opus Genetics during the fourth quarter valued at approximately $5,463,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on IRD. Brookline Capital Acquisition raised shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. BTIG Research reiterated a “buy” rating and issued a $7.00 price objective on shares of Opus Genetics in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. Finally, B. Riley Financial began coverage on shares of Opus Genetics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $7.75.

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.