Opus Genetics (NASDAQ:IRD) Releases Earnings Results

Opus Genetics (NASDAQ:IRD) issued its quarterly earnings results on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, FiscalAI reports. Opus Genetics had a negative return on equity of 697.94% and a negative net margin of 466.09%.The firm had revenue of $3.87 million during the quarter.

Opus Genetics Price Performance

Shares of NASDAQ:IRD opened at $4.77 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The stock has a market cap of $328.94 million, a PE ratio of -2.54 and a beta of 0.44. The company’s fifty day moving average is $2.96 and its 200 day moving average is $2.23. Opus Genetics has a 52 week low of $0.65 and a 52 week high of $5.10.

Insider Transactions at Opus Genetics

In related news, Director Cam Gallagher acquired 83,000 shares of Opus Genetics stock in a transaction dated Monday, December 29th. The shares were purchased at an average cost of $1.97 per share, with a total value of $163,510.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IRD. Nantahala Capital Management LLC boosted its holdings in Opus Genetics by 42.9% during the 4th quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock valued at $9,610,000 after acquiring an additional 1,435,407 shares during the period. BIOS Capital Management LP increased its stake in Opus Genetics by 270.1% in the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,688,180 shares during the period. Balyasny Asset Management L.P. bought a new stake in Opus Genetics in the fourth quarter valued at approximately $5,463,000. Millennium Management LLC bought a new stake in Opus Genetics in the fourth quarter valued at approximately $4,025,000. Finally, Mink Brook Asset Management LLC boosted its stake in shares of Opus Genetics by 34.5% during the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock valued at $3,348,000 after purchasing an additional 427,684 shares during the period. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. B. Riley Financial initiated coverage on Opus Genetics in a research report on Wednesday, December 10th. They set a “buy” rating and a $9.00 target price on the stock. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. Finally, Brookline Capital Acquisition upgraded Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Opus Genetics currently has a consensus rating of “Buy” and a consensus price target of $8.38.

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.