Opus Genetics (NASDAQ:IRD) Director Fighting Blindness Foundation Sells 556,000 Shares of Company Stock

Opus Genetics, Inc. (NASDAQ:IRD) Director Fighting Blindness Foundation sold 556,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $4.96, for a total transaction of $2,757,760.00. Following the completion of the transaction, the director directly owned 3,236,171 shares of the company’s stock, valued at approximately $16,051,408.16. The trade was a 14.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Opus Genetics Trading Up 1.6%

IRD traded up $0.07 on Friday, hitting $4.58. The company had a trading volume of 1,789,535 shares, compared to its average volume of 5,014,174. Opus Genetics, Inc. has a 12-month low of $1.70 and a 12-month high of $7.07. The business’s fifty day simple moving average is $4.37 and its 200 day simple moving average is $4.41.

Opus Genetics (NASDAQ:IRD) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. As a group, research analysts forecast that Opus Genetics, Inc. will post -0.99 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Opaleye Management Inc. raised its holdings in shares of Opus Genetics by 0.4% in the second quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock worth $4,624,000 after buying an additional 5,000 shares during the period. Seven Fleet Capital Management LP boosted its holdings in Opus Genetics by 6.6% during the 2nd quarter. Seven Fleet Capital Management LP now owns 143,137 shares of the company’s stock valued at $588,000 after acquiring an additional 8,895 shares during the period. Engineers Gate Manager LP purchased a new position in Opus Genetics during the 2nd quarter valued at $50,000. Stoneridge Investment Partners LLC bought a new position in Opus Genetics in the 2nd quarter valued at $47,000. Finally, State of Wyoming bought a new position in Opus Genetics in the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on IRD. Royal Bank Of Canada cut their target price on Opus Genetics from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Oppenheimer raised their price target on Opus Genetics from $10.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Opus Genetics in a research note on Monday, June 15th. BTIG Research reiterated a “buy” rating and set a $12.00 price objective on shares of Opus Genetics in a research report on Wednesday, September 9th. Finally, Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Opus Genetics in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.92.

Opus Genetics Company Profile

Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases (IRDs), a group of rare genetic disorders that can cause progressive vision loss or blindness. The company aims to address conditions for which treatment options are limited or unavailable by developing therapies designed to correct or replace disease-causing genetic defects in retinal cells.

Opus Genetics’ pipeline includes investigational programs for genetically defined retinal disorders, including rhodopsin-associated autosomal dominant retinitis pigmentosa and BEST1-related retinal disease.