Opus Genetics (NASDAQ:IRD) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Opus Genetics (NASDAQ:IRD) from a hold rating to a sell rating in a research note issued to investors on Saturday.

IRD has been the topic of a number of other reports. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Wedbush assumed coverage on Opus Genetics in a research note on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price objective for the company. BTIG Research reaffirmed a “buy” rating and set a $7.00 price objective on shares of Opus Genetics in a research report on Wednesday, January 28th. Chardan Capital reiterated a “buy” rating and issued a $9.00 target price on shares of Opus Genetics in a research note on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Opus Genetics currently has a consensus rating of “Buy” and an average price target of $7.75.

Opus Genetics Price Performance

Shares of IRD opened at $3.45 on Friday. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $3.96. The stock has a market cap of $237.91 million, a PE ratio of -1.84 and a beta of 0.58. The firm has a 50-day simple moving average of $2.51 and a two-hundred day simple moving average of $2.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23.

Insider Activity at Opus Genetics

In other Opus Genetics news, Director Cam Gallagher purchased 83,000 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost of $1.97 per share, for a total transaction of $163,510.00. Following the transaction, the director directly owned 83,000 shares in the company, valued at approximately $163,510. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the completion of the transaction, the director directly owned 5,492,171 shares of the company’s stock, valued at $11,808,167.65. This represents a 42.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Opus Genetics

A number of large investors have recently made changes to their positions in the company. Occudo Quantitative Strategies LP acquired a new position in Opus Genetics during the fourth quarter worth $25,000. Comerica Bank acquired a new stake in Opus Genetics in the 1st quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in Opus Genetics in the 4th quarter valued at about $34,000. Raymond James Financial Inc. grew its holdings in Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after purchasing an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new position in Opus Genetics during the fourth quarter worth approximately $40,000. Institutional investors 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.