Insider Selling: Opus Genetics (NASDAQ:IRD) COO Sells $13,653.36 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 4,644 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $2.94, for a total value of $13,653.36. Following the completion of the sale, the chief operating officer directly owned 291,440 shares of the company’s stock, valued at $856,833.60. The trade was a 1.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Price Performance

Shares of IRD stock opened at $3.84 on Friday. The stock’s fifty day moving average price is $3.87 and its 200 day moving average price is $4.05. Opus Genetics, Inc. has a 1-year low of $1.04 and a 1-year high of $5.81. The company has a market cap of $317.07 million, a price-to-earnings ratio of -2.89 and a beta of 0.55.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.59). Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. The business had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.93 million. As a group, equities research analysts anticipate that Opus Genetics, Inc. will post -1.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IRD. B. Riley Financial reaffirmed a “buy” rating on shares of Opus Genetics in a research report on Thursday, April 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research report on Friday, July 17th. Leerink Partners started coverage on shares of Opus Genetics in a research note on Thursday, May 21st. They set an “outperform” rating and a $10.00 price target on the stock. Zacks Research cut shares of Opus Genetics from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $11.00 price objective on shares of Opus Genetics in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.77.

Institutional Investors Weigh In On Opus Genetics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Occudo Quantitative Strategies LP acquired a new stake in shares of Opus Genetics during the fourth quarter worth about $25,000. Virtu Financial LLC acquired a new position in Opus Genetics in the 4th quarter worth approximately $34,000. Johnson Investment Counsel Inc. purchased a new position in Opus Genetics during the 4th quarter worth approximately $40,000. Raymond James Financial Inc. lifted its stake in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after acquiring an additional 11,000 shares during the period. Finally, Blair William & Co. IL lifted its stake in Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 14.97% of the company’s stock.

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.