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

Opus Genetics, Inc. (NASDAQ:IRD) CFO Robert Gagnon sold 7,783 shares of Opus Genetics stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total value of $22,959.85. Following the completion of the sale, the chief financial officer directly owned 584,375 shares of the company’s stock, valued at approximately $1,723,906.25. This represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 1.8%

Opus Genetics stock opened at $3.47 on Thursday. The stock has a fifty day moving average price of $3.88 and a 200 day moving average price of $4.04. Opus Genetics, Inc. has a 52 week low of $1.04 and a 52 week high of $5.81. The firm has a market capitalization of $286.50 million, a P/E ratio of -2.61 and a beta of 0.55.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC lifted its position in Opus Genetics by 42.9% during the fourth 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 in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Opus Genetics in the 4th quarter valued at $5,463,000. Millennium Management LLC acquired a new position in shares of Opus Genetics during the 4th quarter valued at $4,025,000. ADAR1 Capital Management LLC boosted its position 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 worth $8,413,000 after purchasing an additional 1,809,004 shares during the period. Finally, Mink Brook Asset Management LLC increased its holdings in Opus Genetics by 34.5% in the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock valued at $3,348,000 after purchasing an additional 427,684 shares in the last quarter. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Zacks Research cut shares of Opus Genetics from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price target on shares of Opus Genetics in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a report on Friday, July 17th. BTIG Research reissued a “buy” rating and set a $12.00 price objective on shares of Opus Genetics in a research note on Monday, July 6th. Finally, B. Riley Financial restated a “buy” rating on shares of Opus Genetics in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.77.

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.