Key Points
- Opus Genetics CEO George Magrath sold 24,438 shares on March 16 at an average price of $5.21 for $127,321.98, trimming his position by 1.38% to 1,750,855 shares (≈$9.12M).
- Shares fell 5.5% to $4.41 on Thursday with volume of 204,907 (vs. average 988,480); the company has a market cap of ~$313.4M, a negative PE (-5.43), and a 12‑month range of $0.65–$5.30.
- Analysts are generally positive: several firms started or raised coverage (targets from $7 to $12), producing a consensus "Moderate Buy" and an average price target of about $9.33.
Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) insider Rabourn Amy Zaremba sold 2,816 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $5.25, for a total value of $14,784.00. Following the sale, the insider directly owned 190,312 shares in the company, valued at $999,138. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Opus Genetics Trading Down 4.0%
NASDAQ:IRD traded down $0.19 during mid-day trading on Thursday, reaching $4.48. The company's stock had a trading volume of 327,179 shares, compared to its average volume of 993,493. The stock has a market cap of $318.40 million, a P/E ratio of -5.41 and a beta of 0.45. The firm's fifty day moving average price is $3.35 and its two-hundred day moving average price is $2.41. Opus Genetics, Inc. has a 12-month low of $0.65 and a 12-month high of $5.30.
Key Headlines Impacting Opus Genetics
Here are the key news stories impacting Opus Genetics this week:
- Positive Sentiment: Multiple analysts initiated/raised coverage with bullish ratings and higher price targets (Oppenheimer started coverage with an "outperform" and $10 target; Wedbush and BTIG recently raised targets and maintained buy/outperform views), giving the stock upside potential versus current levels. Article Title
- Neutral Sentiment: Institutional ownership movements show recent inflows from several funds (BIOS Capital, Voss Capital, Wells Fargo, State Street increased positions), which may support longer-term demand but have unclear timing impact on the share price. Article Title
- Neutral Sentiment: Liquidity and technicals: today's volume is below the stock's average (indicating lower trading interest), while the 50-day ($3.35) and 200-day ($2.41) moving averages and the 12‑month range ($0.65–$5.30) provide context for support/resistance levels. Article Title
- Negative Sentiment: Cluster of insider selling on March 16 — CEO George Magrath sold 24,438 shares (~$127k at ~$5.21), Ashwath Jayagopal sold 3,719 shares, COO Joseph K. Schachle sold 3,719 shares, and Amy Zaremba Rabourn sold 2,816 shares. These disclosures (filed with the SEC) represent modest reductions in insider stakes and are likely a principal driver of near-term downward pressure on the stock. Insider Trades CEO Form 4
Institutional Investors Weigh In On Opus Genetics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Occudo Quantitative Strategies LP bought a new position in shares of Opus Genetics in the 4th quarter worth approximately $25,000. Comerica Bank bought a new stake in Opus Genetics during the first quarter valued at approximately $29,000. Virtu Financial LLC purchased a new stake in Opus Genetics during the fourth quarter valued at approximately $34,000. Raymond James Financial Inc. increased 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 valued at $37,000 after buying an additional 11,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. bought a new position in Opus Genetics in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 14.97% of the company's stock.
Analysts Set New Price Targets
IRD has been the subject of several research reports. Craig Hallum set a $9.00 price objective on shares of Opus Genetics and gave the company a "buy" rating in a report on Wednesday, March 11th. BTIG Research lifted their target price on shares of Opus Genetics from $7.00 to $12.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Opus Genetics in a report on Thursday, January 22nd. Finally, Wedbush raised their price target on Opus Genetics from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Opus Genetics currently has an average rating of "Moderate Buy" and a consensus target price of $9.33.
View Our Latest Research Report on IRD
About Opus Genetics
(
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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.
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