Susquehanna International Group LLP Sells 707,886 Shares of Opus Genetics, Inc. $IRD

Susquehanna International Group LLP lowered its holdings in shares of Opus Genetics, Inc. (NASDAQ:IRD - Free Report) by 78.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 196,897 shares of the company's stock after selling 707,886 shares during the period. Susquehanna International Group LLP owned approximately 0.24% of Opus Genetics worth $809,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blair William & Co. IL grew its position in shares of Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company's stock worth $55,000 after buying an additional 3,000 shares during the period. Seven Fleet Capital Management LP lifted its position in shares of Opus Genetics by 6.6% during the 2nd quarter. Seven Fleet Capital Management LP now owns 143,137 shares of the company's stock valued at $588,000 after acquiring an additional 8,895 shares during the period. Raymond James Financial Inc. boosted its stake in Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company's stock worth $37,000 after acquiring an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in Opus Genetics during the fourth quarter worth $25,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Opus Genetics in the second quarter worth $47,000. 14.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IRD has been the topic of several research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Opus Genetics in a report on Friday, July 17th. Royal Bank Of Canada reduced their target price on Opus Genetics from $10.00 to $9.00 and set an "outperform" rating for the company in a research note on Friday, August 7th. Citizens Jmp reaffirmed a "market outperform" rating and issued a $11.00 target price on shares of Opus Genetics in a research report on Monday, June 15th. Leerink Partners assumed coverage on Opus Genetics in a research note on Thursday, May 21st. They set an "outperform" rating and a $10.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of Opus Genetics in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.69.

Insider Activity at Opus Genetics

In other news, CEO George Magrath sold 9,475 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total value of $27,951.25. Following the transaction, the chief executive officer owned 1,731,869 shares in the company, valued at $5,109,013.55. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,331 shares of company stock valued at $86,629 over the last three months. Corporate insiders own 11.70% of the company's stock.

Opus Genetics Price Performance

Shares of NASDAQ IRD opened at $3.62 on Tuesday. The company has a 50-day moving average price of $3.73 and a 200-day moving average price of $4.25. The stock has a market capitalization of $299.19 million, a P/E ratio of -2.68 and a beta of 0.59. Opus Genetics, Inc. has a 1 year low of $1.17 and a 1 year high of $5.81.

Opus Genetics (NASDAQ:IRD - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $0.76 million for the quarter, compared to analysts' expectations of $2.63 million. Opus Genetics had a negative net margin of 1,091.82% and a negative return on equity of 338.88%. As a group, equities research analysts anticipate that Opus Genetics, Inc. will post -0.99 earnings per share 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.

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