Opus Genetics (NASDAQ:IRD) Insider Sells $14,784.00 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) insider Rabourn Amy Zaremba sold 2,816 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $5.25, for a total value of $14,784.00. Following the completion of the transaction, the insider owned 190,312 shares in the company, valued at $999,138. This trade represents a 1.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Opus Genetics Price Performance

IRD opened at $4.39 on Friday. The company has a market capitalization of $312.35 million, a PE ratio of -5.35 and a beta of 0.45. Opus Genetics, Inc. has a fifty-two week low of $0.65 and a fifty-two week high of $5.30. The business has a 50-day moving average of $3.46 and a 200-day moving average of $2.45.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC lifted its holdings in Opus Genetics by 42.9% in the 4th quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock worth $9,610,000 after purchasing an additional 1,435,407 shares during the last quarter. BIOS Capital Management LP boosted its position in Opus Genetics by 270.1% during the second quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after purchasing an additional 2,688,180 shares during the period. Balyasny Asset Management L.P. acquired a new position in Opus Genetics during the fourth quarter valued at approximately $5,463,000. Millennium Management LLC acquired a new position in Opus Genetics during the fourth quarter valued at approximately $4,025,000. Finally, Mink Brook Asset Management LLC raised its position in shares of 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 valued at $3,348,000 after purchasing an additional 427,684 shares during the period. 14.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. B. Riley Financial assumed coverage on shares of Opus Genetics in a research report on Wednesday, December 10th. They set a “buy” rating and a $9.00 price objective on the stock. Chardan Capital boosted their target price on shares of Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. Oppenheimer initiated coverage on shares of Opus Genetics in a report on Monday, March 16th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, Wedbush lifted their price objective on shares of Opus Genetics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and an average target price of $9.33.

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.