Opus Genetics (NASDAQ:IRD) COO Sells $19,524.75 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 3,719 shares of Opus Genetics stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $5.25, for a total transaction of $19,524.75. Following the sale, the chief operating officer owned 300,781 shares of the company’s stock, valued at approximately $1,579,100.25. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Opus Genetics Stock Down 2.9%

NASDAQ IRD traded down $0.14 during trading hours on Wednesday, hitting $4.66. The company’s stock had a trading volume of 922,949 shares, compared to its average volume of 1,007,191. The stock has a fifty day moving average of $3.30 and a 200 day moving average of $2.39. Opus Genetics, Inc. has a twelve month low of $0.65 and a twelve month high of $5.30. The firm has a market capitalization of $331.56 million, a P/E ratio of -5.68 and a beta of 0.45.

Institutional Investors Weigh In On Opus Genetics

Hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC grew its holdings in shares of Opus Genetics by 42.9% in the 4th 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 during the period. BIOS Capital Management LP increased its position in shares of Opus Genetics by 270.1% in the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after buying an additional 2,688,180 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Opus Genetics during the 4th quarter worth $5,463,000. Millennium Management LLC acquired a new stake in Opus Genetics during the 4th quarter worth $4,025,000. Finally, Mink Brook Asset Management LLC lifted its holdings in Opus Genetics by 34.5% during the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after acquiring an additional 427,684 shares in the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on IRD. Wedbush increased their price target on Opus Genetics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. Brookline Capital Acquisition raised Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Piper Sandler initiated coverage on Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price objective for the company. B. Riley Financial started 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. Finally, Lifesci Capital upgraded Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Opus Genetics presently has a consensus rating of “Buy” and an average target price of $9.33.

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.