524,245 Shares in Opus Genetics, Inc. $IRD Purchased by AWM Investment Company Inc.

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. acquired a new position in Opus Genetics, Inc. (NASDAQ:IRD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 524,245 shares of the company's stock, valued at approximately $515,000. AWM Investment Company Inc. owned approximately 1.15% of Opus Genetics at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mink Brook Asset Management LLC purchased a new position in shares of Opus Genetics during the 1st quarter valued at approximately $795,000. Kestra Private Wealth Services LLC purchased a new position in shares of Opus Genetics during the 1st quarter valued at approximately $47,000. BIOS Capital Management LP purchased a new position in shares of Opus Genetics during the 1st quarter valued at approximately $977,000. Nantahala Capital Management LLC purchased a new position in shares of Opus Genetics during the 1st quarter valued at approximately $3,100,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Opus Genetics during the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 14.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $8.00 target price 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 research report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $7.33.

Opus Genetics Price Performance

IRD stock traded down $0.01 during midday trading on Friday, reaching $1.27. The stock had a trading volume of 130,163 shares, compared to its average volume of 234,672. Opus Genetics, Inc. has a 52-week low of $0.65 and a 52-week high of $1.75. The company has a market cap of $76.09 million, a price-to-earnings ratio of -0.66 and a beta of 0.07. The company's fifty day simple moving average is $1.13 and its 200 day simple moving average is $1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06.

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

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.