Opus Genetics (NASDAQ:IRD) Insider Ashwath Jayagopal Sells 7,542 Shares

Opus Genetics, Inc. (NASDAQ:IRD) insider Ashwath Jayagopal sold 7,542 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.19, for a total value of $39,142.98. Following the sale, the insider owned 509,233 shares of the company’s stock, valued at approximately $2,642,919.27. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ashwath Jayagopal also recently made the following trade(s):

• On Monday, March 16th, Ashwath Jayagopal sold 3,719 shares of Opus Genetics stock. The stock was sold at an average price of $5.12, for a total value of $19,041.28.

Opus Genetics Stock Performance

Opus Genetics stock traded down $0.11 during mid-day trading on Monday, reaching $5.12. 736,774 shares of the company were exchanged, compared to its average volume of 885,269. The business has a fifty day moving average of $4.67 and a 200 day moving average of $3.07. The firm has a market cap of $365.57 million, a P/E ratio of -6.24 and a beta of 0.52. Opus Genetics, Inc. has a 12-month low of $0.81 and a 12-month high of $5.81.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IRD. Craig Hallum set a $9.00 price objective on Opus Genetics and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a report on Tuesday, April 21st. Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Chardan Capital lifted their price target on Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, BTIG Research lifted their price target on Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.11.

Institutional Trading of Opus Genetics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IRD. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics during the 4th quarter worth about $25,000. Comerica Bank acquired a new stake in Opus Genetics during the 1st quarter worth about $29,000. Virtu Financial LLC acquired a new stake in Opus Genetics during the 4th quarter worth about $34,000. Raymond James Financial Inc. lifted its position in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 14.97% of the company’s stock.

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.