Opus Genetics (NASDAQ:IRD) CFO Robert Gagnon Sells 7,783 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) CFO Robert Gagnon sold 7,783 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $2.95, for a total transaction of $22,959.85. Following the completion of the sale, the chief financial officer owned 584,375 shares of the company’s stock, valued at $1,723,906.25. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Performance

IRD stock opened at $3.41 on Wednesday. Opus Genetics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $5.81. The company has a market capitalization of $281.56 million, a price-to-earnings ratio of -2.56 and a beta of 0.55. The business’s 50 day moving average price is $3.90 and its two-hundred day moving average price is $4.03.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Tuesday, May 12th. The company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.59). Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. The firm had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.93 million. Sell-side analysts forecast that Opus Genetics, Inc. will post -1.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on IRD shares. Citigroup started coverage on Opus Genetics in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Opus Genetics in a research report on Monday, June 15th. Guggenheim began coverage on shares of Opus Genetics in a research note on Thursday, June 4th. They issued a “buy” rating and a $16.00 price target for the company. Leerink Partners initiated coverage on shares of Opus Genetics in a research report on Thursday, May 21st. They set an “outperform” rating and a $10.00 price target for the company. Finally, Royal Bank Of Canada began coverage on shares of Opus Genetics in a research report on Tuesday, June 23rd. They set an “outperform” rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Opus Genetics currently has a consensus rating of “Moderate Buy” and an average price target of $10.77.

Hedge Funds Weigh In On Opus Genetics

Several large investors have recently modified their holdings of the stock. Balyasny Asset Management L.P. bought a new position in Opus Genetics in the 4th quarter worth about $5,463,000. Millennium Management LLC bought a new stake in Opus Genetics during the 4th quarter valued at about $4,025,000. ADAR1 Capital Management LLC increased its stake in Opus Genetics by 4,522.5% during 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 in the last quarter. Nantahala Capital Management LLC raised its holdings in Opus Genetics by 42.9% in the fourth quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock worth $9,610,000 after buying an additional 1,435,407 shares during the last quarter. Finally, Mink Brook Asset Management LLC raised its holdings in Opus Genetics by 34.5% in the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after buying an additional 427,684 shares during the last quarter. Hedge funds and other institutional investors 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.