Opus Genetics (NASDAQ:IRD) Director Cam Gallagher Purchases 83,000 Shares

Opus Genetics, Inc. (NASDAQ:IRD) Director Cam Gallagher purchased 83,000 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the acquisition, the director directly owned 83,000 shares in the company, valued at approximately $163,510. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Cam Gallagher also recently made the following trade(s):

• On Monday, December 29th, Cam Gallagher acquired 81,000 shares of Opus Genetics stock. The shares were bought at an average cost of $1.98 per share, for a total transaction of $160,380.00.

Opus Genetics Price Performance

IRD traded up $0.06 on Wednesday, hitting $2.01. 212,948 shares of the company were exchanged, compared to its average volume of 509,176. Opus Genetics, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $2.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $138.61 million, a P/E ratio of -1.07 and a beta of 0.42. The business’s fifty day moving average is $2.05 and its 200 day moving average is $1.58.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. The firm had revenue of $3.08 million during the quarter, compared to the consensus estimate of $3.07 million. Opus Genetics had a negative return on equity of 697.94% and a negative net margin of 466.09%. As a group, sell-side analysts anticipate that Opus Genetics, Inc. will post -1.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. B. Riley initiated coverage on Opus Genetics in a research note on Wednesday, December 10th. They issued a “buy” rating and a $9.00 target price on the stock. Chardan Capital reiterated a “buy” rating and set a $9.00 target price on shares of Opus Genetics in a report on Thursday, November 13th. Piper Sandler assumed coverage on Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Opus Genetics presently has an average rating of “Moderate Buy” and a consensus target price of $7.86.

Institutional Investors Weigh In On Opus Genetics

Several hedge funds have recently made changes to their positions in IRD. BIOS Capital Management LP increased its stake in Opus Genetics by 270.1% in the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after purchasing an additional 2,688,180 shares during the last quarter. AWM Investment Company Inc. acquired a new stake in Opus Genetics in the 1st quarter worth about $515,000. Voss Capital LP grew its holdings in Opus Genetics by 260.8% in the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after buying an additional 391,159 shares during the period. Mink Brook Asset Management LLC increased its stake in shares of Opus Genetics by 47.8% during the 2nd quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock valued at $1,128,000 after acquiring an additional 387,536 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Opus Genetics by 35.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock worth $2,214,000 after acquiring an additional 349,825 shares during the period. Institutional investors and hedge funds 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.