AWM Investment Company Inc. Purchases New Position in Opus Genetics, Inc. $IRD

Key Points

• AWM Investment Company Inc. acquired 524,245 shares of Opus Genetics, valued at approximately $515,000, representing about 1.15% of the company's total shares.
• Several other institutional investors also increased their stakes in Opus Genetics, contributing to a total of 14.97% ownership by hedge funds and institutions.
• Wall Street analysts have a consensus rating of "Buy" for Opus Genetics, with an average price target of $7.33.

AWM Investment Company Inc. bought a new position in shares of Opus Genetics, Inc. (NASDAQ:IRD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 524,245 shares of the company's stock, valued at approximately $515,000. AWM Investment Company Inc. owned approximately 1.15% of Opus Genetics as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Opus Genetics during the first quarter worth $26,000. Apollon Wealth Management LLC acquired a new position in shares of Opus Genetics during the first quarter valued at $28,000. Comerica Bank acquired a new position in shares of Opus Genetics during the first quarter valued at $29,000. Kestra Private Wealth Services LLC acquired a new position in Opus Genetics during the first quarter worth about $47,000. Finally, Voss Capital LP acquired a new position in Opus Genetics during the first quarter worth about $147,000. Institutional investors and hedge funds own 14.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. HC Wainwright restated a "buy" rating and set a $8.00 price objective on shares of Opus Genetics in a research report on Friday, June 27th. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Opus Genetics currently has an average rating of "Buy" and an average target price of $7.33.

Opus Genetics Stock Performance

NASDAQ IRD traded up $0.03 on Monday, hitting $1.30. 278,714 shares of the stock traded hands, compared to its average volume of 522,650. Opus Genetics, Inc. has a 12 month low of $0.65 and a 12 month high of $1.75. The business's fifty day moving average is $1.13 and its two-hundred day moving average is $1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $77.76 million, a price-to-earnings ratio of -0.67 and a beta of 0.07.

Opus Genetics (NASDAQ:IRD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.13. The firm had revenue of $2.88 million during the quarter, compared to analyst estimates of $4.27 million. Opus Genetics had a negative return on equity of 384.33% and a negative net margin of 377.89%. As a group, equities analysts anticipate that Opus Genetics, Inc. will post -1.22 EPS for the current fiscal 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.