BIOS Capital Management LP Buys New Shares in Opus Genetics, Inc. $IRD

Key Points

• BIOS Capital Management LP has invested approximately $977,000 in Opus Genetics, acquiring 995,249 shares, making it the fund's 6th largest holding.
• Opus Genetics has reported a quarterly loss of ($0.12) earnings per share, surpassing analysts' expectations of ($0.25) but falling short of revenue projections.
• Several institutional investors have recently increased their stakes in Opus Genetics, contributing to institutional ownership reaching 14.97% of the company's stock.

BIOS Capital Management LP bought a new stake 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 (SEC). The institutional investor bought 995,249 shares of the company's stock, valued at approximately $977,000. Opus Genetics comprises about 1.2% of BIOS Capital Management LP's portfolio, making the stock its 6th biggest holding. BIOS Capital Management LP owned approximately 2.19% of Opus Genetics as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on IRD shares. HC Wainwright reiterated 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 research report on Saturday, July 12th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, Opus Genetics has an average rating of "Buy" and an average price target of $7.33.

Opus Genetics Trading Up 2.5%

Shares of IRD traded up $0.03 during midday trading on Friday, hitting $1.22. 162,369 shares of the stock were exchanged, compared to its average volume of 188,606. Opus Genetics, Inc. has a 52-week low of $0.65 and a 52-week high of $1.75. The stock has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $1.01. The firm has a market cap of $73.09 million, a P/E ratio of -0.64 and a beta of 0.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.90 and a current ratio of 1.90.

Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.27 million. On average, research analysts anticipate that Opus Genetics, Inc. will post -1.22 EPS for the current fiscal year.

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.