Nantahala Capital Management LLC Invests $12.58 Million in Opus Genetics, Inc. $IRD

Nantahala Capital Management LLC acquired a new stake in Opus Genetics, Inc. (NASDAQ:IRD) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,061,359 shares of the company’s stock, valued at approximately $12,582,185.

Several other large investors also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Opus Genetics during the second quarter worth $12,809,000. Trails Edge Capital Partners LP acquired a new position in shares of Opus Genetics in the second quarter valued at about $11,276,434. Balyasny Asset Management L.P. bought a new position in Opus Genetics during the fourth quarter worth about $5,463,000. Millennium Management LLC bought a new position in Opus Genetics during the fourth quarter worth about $4,025,000. Finally, ADAR1 Capital Management LLC raised its stake in Opus Genetics by 4,522.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock worth $8,413,000 after purchasing an additional 1,809,004 shares in the last quarter. 14.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Opus Genetics from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Chardan Capital reiterated a “buy” rating and issued a $13.00 price target on shares of Opus Genetics in a research report on Monday, July 6th. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Leerink Partners started coverage on Opus Genetics in a research note on Thursday, May 21st. They issued an “outperform” rating and a $10.00 price target for the company. Finally, BTIG Research reissued a “buy” rating and set a $12.00 price target on shares of Opus Genetics in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Opus Genetics currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.69.

Insider Transactions at Opus Genetics

In related news, CEO George Magrath sold 9,475 shares of Opus Genetics stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total value of $27,951.25. Following the transaction, the chief executive officer directly owned 1,731,869 shares of the company’s stock, valued at $5,109,013.55. This trade represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 29,331 shares of company stock valued at $86,629 over the last quarter. Company insiders own 11.70% of the company’s stock.

Opus Genetics Stock Down 4.2%

Shares of Opus Genetics stock opened at $3.69 on Friday. Opus Genetics, Inc. has a 12-month low of $1.17 and a 12-month high of $5.81. The company has a market capitalization of $304.98 million, a price-to-earnings ratio of -2.73 and a beta of 0.59. The firm’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $4.25.

Opus Genetics (NASDAQ:IRD) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate 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 company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $2.63 million. On average, sell-side analysts expect that Opus Genetics, Inc. will post -0.99 earnings per share for the current year.

Opus Genetics 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.