Mink Brook Asset Management LLC Takes Position in Opus Genetics, Inc. $IRD

Key Points

• Mink Brook Asset Management LLC has acquired 810,080 shares of Opus Genetics, valued at approximately $795,000, making it the firm's 19th largest holding.
• Opus Genetics reported earnings of ($0.12) per share in its most recent quarter, surpassing analysts' expectations, although its revenue fell short at $2.88 million compared to an expected $4.27 million.
• Wall Street analysts maintain a consensus "Buy" rating for Opus Genetics, with a target price currently set at $7.33.

Mink Brook Asset Management LLC acquired a new stake in Opus Genetics, Inc. (NASDAQ:IRD - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 810,080 shares of the company's stock, valued at approximately $795,000. Opus Genetics comprises approximately 0.8% of Mink Brook Asset Management LLC's holdings, making the stock its 19th largest holding. Mink Brook Asset Management LLC owned about 1.78% of Opus Genetics as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Voss Capital LP bought a new stake in Opus Genetics during the 1st quarter worth about $147,000. Kestra Private Wealth Services LLC bought a new stake in shares of Opus Genetics during the first quarter worth approximately $47,000. Apollon Wealth Management LLC bought a new stake in shares of Opus Genetics during the first quarter worth approximately $28,000. Finally, Virtu Financial LLC bought a new position in Opus Genetics in the first quarter valued at approximately $26,000. Institutional investors and hedge funds own 14.97% of the company's stock.

Opus Genetics Stock Down 0.8%

Opus Genetics stock traded down $0.01 during mid-day trading on Thursday, reaching $1.19. The company's stock had a trading volume of 109,161 shares, compared to its average volume of 531,013. 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, Inc. has a 12 month low of $0.65 and a 12 month high of $1.75. The business's 50 day simple moving average is $1.09 and its 200 day simple moving average is $1.01. The company has a market capitalization of $71.29 million, a price-to-earnings ratio of -0.62 and a beta of 0.01.

Opus Genetics (NASDAQ:IRD - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.13. The business had revenue of $2.88 million for the quarter, compared to the consensus estimate 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, research analysts anticipate that Opus Genetics, Inc. will post -1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

IRD has been the subject of several analyst reports. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. HC Wainwright restated a "buy" rating and issued a $8.00 price objective on shares of Opus Genetics in a research report on Friday, June 27th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $7.33.

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.