IRD
Opus Genetics, Inc.Healthcare·Biotechnology
$4.36
$355M market cap
Revenue
$6.0M
Free Cash Flow
$-22.6M
Rev Growth
+0.0%
FCF Margin
-374.6%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Opus Genetics, Inc., 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. The company offers Phentolamine Ophthalmic Solution for reversal of mydriasis, as well as is in Phase III clinical trials for presbyopia and dim light or night vision disturbances. Its lead retinal product candidate is APX3330, a small-molecule inhibitor of reduction oxidation effect
2-Year Price History
$4.26+230.2%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 2.2 | -14.4 | -14.4 | -65.5 | -12.7 | -12.7 | -0.0 | 60.0 | 25.9 | 868.9 | -221.6% | -22.0x | -- |
| Act | 2025-Q4 | 3.9 | -15.1 | -11.5 | -16.5 | -9.8 | -9.8 | -0.0 | 45.1 | 0.0 | 622.2 | -918.6% | -10.8x | -- |
Valuation & Metrics
Market Stats
Price$4.36
Market Cap$355M
Enterprise Value$321M
P/S Ratio58.9x
P/FCF--
EV/FCF--
FCF Margin (TTM)-374.6%
FCF Yield-6.4%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$6.0M
Net Income$-82.1M
Free Cash Flow$-22.6M
Revenue Growth (YoY)+0.0%
EBITDA Margin-489.3%
Net Margin-1362.6%
FCF Margin-374.6%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-570.1%
WC Change % Rev26.2%
Interest Coverage-14.4x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares2.0M
Days to Cover2.2
Change (vs Prior)+10.6%
Need at least 2 settlement dates for chart
Employees
Headcount18
Revenue / Employee$334,556
Gross Profit / Employee$333,833
Cash Runway
31.9months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
52.3%(+48.5% YoY)
67 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
4.9%(+4.4% YoY)
7 filers
Vanguard, iShares, SPDR
Market makers
1.3%(+1.3% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Caligan Partners LP | $27.6M | $4.55 | +$27.6M | +$27.6M | +6.8% | $1.41B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $27.4M | $4.03 | +$22.4M | +$27.4M | -0.1% | $64.61B |
| BIOS Capital Management, LP | $16.8M | $1.01 | +$0 | +$12.2M | -19.0% | $52.9M |
| BALYASNY ASSET MANAGEMENT LLC | $12.4M | $2.01 | +$0 | +$12.4M | -0.4% | $48.01B |
| MILLENNIUM MANAGEMENT LLC | $12.0M | $2.57 | +$2.9M | +$12.0M | -0.5% | $127.40B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $11.1M | $4.55 | +$11.1M | +$11.1M | — | $4.04T |
| MARSHALL WACE, LLP | $10.5M | $4.55 | +$9.8M | +$10.5M | +0.6% | $92.71B |
| Boxer Capital Management, LLC | $10.2M | $4.55 | +$10.2M | +$10.2M | +19.7% | $762M |
| ADAR1 Capital Management, LLC | $8.4M | $4.50 | +$8.2M | +$8.4M | +8.3% | $1.64B |
| PERCEPTIVE ADVISORS LLC | $8.4M | $0.98 | −$11.3M | −$11.3M | -1.4% | $5.05B |
| Nantahala Capital Management, LLC | $7.7M | $1.29 | −$14.1M | −$6.7M | -2.5% | $1.60B |
| Woodline Partners LP | $6.2M | $4.55 | +$6.2M | +$6.2M | -0.1% | $26.43B |
| BOOTHBAY FUND MANAGEMENT, LLC | $5.4M | $4.55 | +$5.4M | +$5.4M | — | $4.25B |
| FARALLON CAPITAL MANAGEMENT LLC | $4.5M | $4.55 | +$4.5M | +$4.5M | -0.4% | $15.27B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $3.7M | $3.96 | +$2.8M | +$3.6M | -0.6% | $77.14B |
| Bleichroeder LP | $3.4M | $0.98 | +$0 | +$0 | -2.9% | $579M |
| Mink Brook Asset Management LLC | $2.7M | $1.25 | −$4.9M | −$999K | -0.8% | $179M |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $2.5M | $1.87 | +$152K | +$842K | +2.3% | $1.61T |
| Trails Edge Capital Partners, LP | $2.3M | $4.55 | +$2.3M | +$2.3M | +12.1% | $425M |
| Opaleye Management Inc. | $2.3M | $1.00 | +$0 | −$111K | +0.9% | $759M |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+1.29%
avg per quarter
Holders (ex-self)
+0.79%
excl. this stock
Buyers (this Q)
+4.28%
44 buyers · $0.14B in
Sellers (this Q)
-1.78%
14 sellers · $0.00B out
alpha coverage: 94% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-12.4%
how holders react when this stock falls
On quiet Qs
+2.7%
−10% to +10% baseline
On rallies (+10%+)
-2.8%
how they react when this stock rises
Holders' portfolio flow this Q
+6.0%
inflows — adds are organic
Sellers' portfolio flow this Q
-4.5%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-8.9%
Holder mid (any stock)
-5.3%
Holder rally (any stock)
-9.0%
Biggest decreases this quarter
Nantahala Capital Management, LLC−$14.1Mα-2.5PERCEPTIVE ADVISORS LLC−$11.3Mα-1.4Mink Brook Asset Management LLC−$4.9Mα-0.8Voss Capital, LLCexited−$888KQube Research & Technologies Ltdexited−$80KJOHNSON INVESTMENT COUNSEL INCexited−$40KVirtu Financial LLCexited−$34KOCCUDO QUANTITATIVE STRATEGIES LPexited−$25KROYAL BANK OF CANADAexited−$1KCITIGROUP INCexited−$0
New buyers this quarter
Caligan Partners LP+$0.03Bα+6.8VANGUARD CAPITAL MANAGEMENT LLC+$0.01BBoxer Capital Management, LLC+$0.01Bα+19.7Woodline Partners LP+$0.01Bα-0.1FARALLON CAPITAL MANAGEMENT LLC+$0.00Bα-0.4Trails Edge Capital Partners, LP+$0.00Bα+12.1GREAT POINT PARTNERS LLC+$0.00Bα-4.5VANGUARD FIDUCIARY TRUST CO+$0.00B
Top-5 holders · 47.2%
Caligan Partners LP--
ADAGE CAPITAL PARTNERS GP, L.L.C.--
BIOS Capital Management, LP--
BALYASNY ASSET MANAGEMENT LLC--
MILLENNIUM MANAGEMENT LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Caligan Partners LP6.1MADAGE CAPITAL PARTNERS GP, L.L.C.6.0MBIOS Capital Management, LP3.7MBALYASNY ASSET MANAGEMENT LLC2.7MMILLENNIUM MANAGEMENT LLC2.6MMARSHALL WACE, LLP2.3MBoxer Capital Management, LLC2.3MNantahala Capital Management, LLC1.7MPERCEPTIVE ADVISORS LLC1.8MADAR1 Capital Management, LLC1.8M
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$9.5011790.0%
Last Year (4 analysts)$8.258920.0%
Current Price$4.36
Analyst Ratings
7
Buy: 7Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$324K
1 txn · 1 insider · 164,000 sh
Sells ($, 12mo)
$16.38M
12 txns · 7 insiders · 5,773,395 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-18 | SELL | Foundation Fighting Blindness Retinal Degeneration Fund | director, other: See Remarks | 1,700,000 | $4.35 | $7.39M | $16.50M |
| 2026-04-23 | SELL | Gagnon Robert E. | officer: Chief Financial Officer | 7,842 | $5.18 | $41K | $3.07M |
| 2026-04-23 | SELL | Jayagopal Ashwath | officer: Chief Scientific & Dev. Ofc. | 7,542 | $5.19 | $39K | $2.64M |
| 2026-04-23 | SELL | Magrath George | director, officer: Chief Executive Officer | 9,511 | $5.22 | $50K | $9.09M |
| 2026-04-23 | SELL | SCHACHLE JOSEPH K | officer: Chief Operating Officer | 4,697 | $5.22 | $25K | $1.55M |
| 2026-04-23 | SELL | YERXA BENJAMIN R | director, officer: President | 7,470 | $5.24 | $39K | $3.73M |
| 2026-04-23 | SELL | Zaremba Rabourn Amy | officer: Head of Fin. Quality Assurance | 1,641 | $5.20 | $9K | $982K |
| 2026-03-16 | SELL | Jayagopal Ashwath | officer: Chief Scientific & Dev. Ofc. | 3,719 | $5.12 | $19K | $2.65M |
| 2026-03-16 | SELL | Magrath George | director, officer: Chief Executive Officer | 24,438 | $5.21 | $127K | $9.12M |
| 2026-03-16 | SELL | SCHACHLE JOSEPH K | officer: Chief Operating Officer | 3,719 | $5.25 | $20K | $1.58M |
| 2026-03-16 | SELL | Zaremba Rabourn Amy | officer: Head of Fin. Quality Assurance | 2,816 | $5.25 | $15K | $998K |
| 2025-12-29 | BUY | Gallagher Cam | director | 164,000 | $1.97 | $324K | $3.73M |
| 2025-12-09 | SELL | Foundation Fighting Blindness Retinal Degeneration Fund | director, other: See Remarks | 4,000,000 | $2.15 | $8.60M | $11.81M |
Order Flow (FINRA, ~3w lag)
24.4%retail-9.7pp
16.1%dark+0.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Opus Genetics, Inc.: Administrative shell metadata provides no forensic substance
Overall Risk
1/10
Fraud
1/10
Dilution
1/10
Insolvency
1/10
Earnings Overstated
1/10
Hidden Liabilities
1/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10