Fighting Blindness Foundation Sells 1,700,000 Shares of Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics, Inc. (NASDAQ:IRD) Director Fighting Blindness Foundation sold 1,700,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $4.35, for a total value of $7,395,000.00. Following the completion of the transaction, the director directly owned 3,792,171 shares of the company’s stock, valued at approximately $16,495,943.85. The trade was a 30.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Opus Genetics Trading Up 4.2%

Shares of NASDAQ:IRD traded up $0.18 on Wednesday, hitting $4.44. The company’s stock had a trading volume of 540,639 shares, compared to its average volume of 1,026,177. Opus Genetics, Inc. has a 12 month low of $0.90 and a 12 month high of $5.81. The stock’s 50-day moving average is $4.97 and its two-hundred day moving average is $3.40.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.59). Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 892.36%.The business had revenue of $2.16 million during the quarter, compared to the consensus estimate of $2.93 million. Equities analysts predict that Opus Genetics, Inc. will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IRD. Balyasny Asset Management L.P. bought a new position in Opus Genetics during the fourth quarter valued at about $5,463,000. Millennium Management LLC bought a new position in Opus Genetics during the fourth quarter valued at about $4,025,000. ADAR1 Capital Management LLC boosted its stake in Opus Genetics by 4,522.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock valued at $8,413,000 after buying an additional 1,809,004 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in Opus Genetics by 42.9% during the fourth quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock valued at $9,610,000 after buying an additional 1,435,407 shares in the last quarter. Finally, Mink Brook Asset Management LLC raised its stake in shares of Opus Genetics by 34.5% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after purchasing an additional 427,684 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.

Analyst Upgrades and Downgrades

IRD has been the subject of several recent analyst reports. BTIG Research increased their price target on Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Citizens Jmp decreased their price target on Opus Genetics from $12.00 to $11.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research cut Opus Genetics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Wedbush increased their price target on Opus Genetics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, March 12th. Finally, Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.20.

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.