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

Opus Genetics, Inc. (NASDAQ:IRD) was the recipient of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 1,110,696 shares, an increase of 17.9% from the February 12th total of 942,054 shares. Based on an average daily trading volume, of 888,480 shares, the short-interest ratio is presently 1.3 days. Currently, 1.7% of the company’s shares are sold short. Currently, 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 888,480 shares, the short-interest ratio is presently 1.3 days.

Opus Genetics Price Performance

IRD traded down $0.15 during trading on Wednesday, reaching $4.65. The company had a trading volume of 693,286 shares, compared to its average volume of 1,001,426. The company has a market cap of $330.63 million, a P/E ratio of -5.66 and a beta of 0.45. Opus Genetics has a 12 month low of $0.65 and a 12 month high of $5.30. The business’s fifty day moving average price is $3.30 and its 200 day moving average price is $2.39.

Insider Transactions at Opus Genetics

In related news, Director Cam Gallagher bought 83,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was bought 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 of the company’s stock, valued at $163,510. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Opus Genetics

Institutional investors have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP bought a new position in Opus Genetics during the 4th quarter worth about $25,000. Comerica Bank acquired a new stake in shares of Opus Genetics in the 1st quarter valued at about $29,000. Virtu Financial LLC bought a new stake in shares of Opus Genetics in the fourth quarter valued at about $34,000. Raymond James Financial Inc. lifted its holdings in shares of Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Opus Genetics during the fourth quarter worth about $40,000. 14.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BTIG Research increased their price target on shares of Opus Genetics from $7.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. Wedbush boosted their price objective on shares of Opus Genetics from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Thursday, March 12th. Brookline Capital Acquisition raised shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Finally, B. Riley Financial initiated coverage on shares of Opus Genetics in a research report on Wednesday, December 10th. They set a “buy” rating and a $9.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Opus Genetics presently has an average rating of “Buy” and an average price target of $9.33.

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.