Opus Genetics (NASDAQ:IRD) COO Joseph Schachle Sells 4,767 Shares of Company Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 4,767 shares of the stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $3.56, for a total value of $16,970.52. Following the completion of the sale, the chief operating officer directly owned 286,673 shares of the company’s stock, valued at approximately $1,020,555.88. This represents a 1.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Trading Up 4.2%

Shares of Opus Genetics stock opened at $3.46 on Wednesday. Opus Genetics, Inc. has a one year low of $1.70 and a one year high of $7.07. The business’s 50 day moving average price is $4.49 and its 200 day moving average price is $4.13.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.76 million for the quarter, compared to analyst estimates of $2.63 million. Analysts forecast that Opus Genetics, Inc. will post -0.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IRD. BTIG Research reiterated a “buy” rating and set a $12.00 price target on shares of Opus Genetics in a report on Wednesday, September 9th. HC Wainwright reissued a “buy” rating and issued a $8.00 price objective on shares of Opus Genetics in a report on Wednesday, September 9th. JonesTrading raised their price objective on shares of Opus Genetics from $10.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, October 15th. Finally, Wedbush lifted their target price on shares of Opus Genetics from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.71.

Key Opus Genetics News

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: Wall Street brokerages now rate Opus Genetics a “Moderate Buy,” suggesting analysts see potential upside in the company’s gene-therapy pipeline and valuation. Opus Genetics Stock Now Rated Moderate Buy by Wall Street Brokerages
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests little evidence of meaningful bearish positioning, although the report’s description of a “significant increase” conflicts with the zero-share figure and limits its usefulness as a trading signal.
• Neutral Sentiment: Opus Genetics’ CEO, CFO, president and COO collectively sold approximately 61,547 shares worth $218,496 on October 23. Each filing stated that the sales were made to cover tax-withholding obligations tied to vested equity awards, rather than for discretionary liquidation. The executives continued to hold substantial positions after the transactions. CEO Form 4 filing CFO Form 4 filing

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IRD. BlackRock Inc. acquired a new stake in Opus Genetics during the second quarter worth $12,809,000. Nantahala Capital Management LLC purchased a new stake in Opus Genetics in the second quarter valued at $12,582,185. Trails Edge Capital Partners LP acquired a new position in shares of Opus Genetics in the 2nd quarter valued at $11,276,434. ADAR1 Capital Management LLC lifted its stake in shares of Opus Genetics by 4,522.5% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock valued at $8,413,000 after purchasing an additional 1,809,004 shares during the last quarter. Finally, Opaleye Management Inc. grew its holdings in shares of Opus Genetics by 0.4% during the 2nd quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock worth $4,624,000 after purchasing an additional 5,000 shares during the period. 14.97% of the stock is currently owned by institutional investors and hedge funds.

Opus Genetics Company Profile

Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases (IRDs), a group of rare genetic disorders that can cause progressive vision loss and blindness. The company’s research is aimed at addressing the underlying genetic causes of these conditions rather than treating only their symptoms.

Its pipeline includes investigational ophthalmic gene therapies designed for specific IRD-causing mutations, including programs targeting conditions associated with the NR2E3 and BEST1 genes.