Opus Genetics (NASDAQ:IRD) Issues Earnings Results

Key Points

• Opus Genetics reported an earnings per share (EPS) of ($0.12), exceeding analysts' consensus estimates of ($0.25) by $0.13.
• In mid-day trading, shares of Opus Genetics were down 0.9%, with the stock priced at $1.10, compared to a 52-week range of $0.65 to $1.75.
• Royal Bank of Canada purchased a new stake in Opus Genetics, acquiring 304,123 shares valued at approximately $299,000.

Opus Genetics (NASDAQ:IRD - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.13, Zacks reports. Opus Genetics had a negative net margin of 429.42% and a negative return on equity of 283.28%.

Opus Genetics Trading Down 0.9%

Shares of IRD traded down $0.01 during mid-day trading on Wednesday, hitting $1.10. The company's stock had a trading volume of 70,982 shares, compared to its average volume of 165,209. The company's 50-day moving average is $1.06 and its 200-day moving average is $1.01. Opus Genetics has a 52-week low of $0.65 and a 52-week high of $1.75. The firm has a market capitalization of $65.63 million, a price-to-earnings ratio of -0.52 and a beta of 0.01.

Analysts Set New Price Targets

A number of brokerages have commented on IRD. Wall Street Zen upgraded shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. HC Wainwright restated a "buy" rating and issued a $8.00 target price on shares of Opus Genetics in a research note on Friday, June 27th.

Institutional Investors Weigh In On Opus Genetics

A hedge fund recently bought a new stake in Opus Genetics stock. Royal Bank of Canada 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 304,123 shares of the company's stock, valued at approximately $299,000. Royal Bank of Canada owned about 0.67% of Opus Genetics as of its most recent SEC filing. Hedge funds and other institutional investors own 14.97% of the company's stock.

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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