Opus Genetics, Inc. (NASDAQ:IRD) Sees Large Increase in Short Interest

Opus Genetics, Inc. (NASDAQ:IRD) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 90,100 shares, an increase of 66.2% from the August 31st total of 54,200 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 401,500 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 401,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 target price on shares of Opus Genetics in a research note on Friday, June 27th. Wall Street Zen raised Opus Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research note on Saturday, September 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and a consensus target price of $7.33.

Opus Genetics Trading Up 4.4%

Shares of IRD opened at $1.88 on Monday. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $1.92. The firm has a market capitalization of $112.63 million, a P/E ratio of -0.98 and a beta of 0.11. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.09.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.13. The firm had revenue of $2.88 million during the quarter, compared to the consensus estimate of $4.27 million. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%. On average, equities research analysts forecast that Opus Genetics will post -1.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IRD. Virtu Financial LLC acquired a new stake in shares of Opus Genetics in the first quarter worth $26,000. Apollon Wealth Management LLC acquired a new stake in Opus Genetics in the 1st quarter valued at $28,000. Comerica Bank purchased a new position in Opus Genetics in the first quarter valued at about $29,000. Kestra Private Wealth Services LLC purchased a new position in Opus Genetics in the first quarter valued at about $47,000. Finally, Voss Capital LP acquired a new position in shares of Opus Genetics during the first quarter worth about $147,000. 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.