3,157,895 Shares in Opus Genetics, Inc. $IRD Bought by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC purchased 3,157,895 shares of Opus Genetics, Inc. for approximately $3.1 million, representing about 6.94% ownership of the company.
• Opus Genetics reported a negative earnings per share of ($0.12) for the last quarter, exceeding forecasts but still showing a negative net margin of 377.89%.
• Wall Street analysts have a consensus rating of "Buy" on Opus Genetics, with a target price of $7.33, indicating potential growth for the stock.

Nantahala Capital Management LLC purchased a new stake 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 & Exchange Commission. The firm purchased 3,157,895 shares of the company's stock, valued at approximately $3,100,000. Nantahala Capital Management LLC owned 6.94% of Opus Genetics at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Mink Brook Asset Management LLC acquired a new stake in shares of Opus Genetics in the first quarter valued at approximately $795,000. BIOS Capital Management LP bought a new stake in Opus Genetics during the first quarter worth approximately $977,000. Kestra Private Wealth Services LLC bought a new stake in Opus Genetics during the first quarter worth approximately $47,000. Apollon Wealth Management LLC acquired a new position in Opus Genetics in the 1st quarter worth approximately $28,000. Finally, Voss Capital LP acquired a new position in Opus Genetics in the 1st 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 research analysts have issued reports on IRD shares. Wall Street Zen raised shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of Opus Genetics in a research report on Friday, June 27th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $7.33.

Opus Genetics Stock Performance

IRD traded down $0.01 during trading on Friday, hitting $1.27. The stock had a trading volume of 130,163 shares, compared to its average volume of 234,672. The firm has a market cap of $76.08 million, a PE ratio of -0.66 and a beta of 0.07. Opus Genetics, Inc. has a 12 month low of $0.65 and a 12 month high of $1.75. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.06. The company has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.02.

Opus Genetics (NASDAQ:IRD - Get Free Report) last announced its 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. The firm had revenue of $2.88 million for the quarter, compared to the consensus estimate of $4.27 million. Opus Genetics had a negative net margin of 377.89% and a negative return on equity of 384.33%. Analysts expect that Opus Genetics, Inc. will post -1.22 EPS for the current 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.