Opus Genetics (NASDAQ:IRD) CFO Sells $22,959.85 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) CFO Robert Gagnon sold 7,783 shares of the 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 $22,959.85. Following the sale, the chief financial officer owned 584,375 shares in the company, valued at approximately $1,723,906.25. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Price Performance

IRD stock opened at $3.84 on Friday. The business has a fifty day moving average price of $3.87 and a 200 day moving average price of $4.05. Opus Genetics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $5.81. The stock has a market capitalization of $317.07 million, a price-to-earnings ratio of -2.89 and a beta of 0.55.

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

Analysts Set New Price Targets

Several research analysts recently issued reports on IRD shares. Wall Street Zen downgraded shares of Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Leerink Partners assumed coverage on shares of Opus Genetics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $10.00 price objective for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Opus Genetics in a research note on Monday, June 15th. B. Riley Financial reiterated a “buy” rating on shares of Opus Genetics in a research report on Thursday, April 30th. Finally, TD Cowen started coverage on shares of Opus Genetics in a research note on Wednesday. They set a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.77.

Institutional Investors Weigh In On Opus Genetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP bought a new stake in shares of Opus Genetics during the fourth quarter worth $25,000. Comerica Bank bought a new position in Opus Genetics in the first quarter valued at about $29,000. Virtu Financial LLC bought a new position in Opus Genetics in the fourth quarter valued at about $34,000. Raymond James Financial Inc. increased its position in Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after purchasing an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics in the fourth quarter worth about $40,000. 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.