Key Points
- Opus Genetics director Fighting Blindness Foundation sold 1.7 million shares on May 18 at an average price of $4.35, totaling $7.395 million. After the sale, the director still held 3.79 million shares, a 30.95% reduction in ownership.
- The stock was trading around $4.44 and has ranged from $0.90 to $5.81 over the past 12 months. The company’s market capitalization was about $361.4 million.
- Opus Genetics reported a weaker-than-expected quarterly loss, with EPS of -$0.75 versus analyst expectations of -$0.16 and revenue of $2.16 million versus $2.93 million expected. Analysts currently have a Moderate Buy consensus with an average price target of $10.20.
Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) Director Fighting Blindness Foundation sold 1,700,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $4.35, for a total transaction of $7,395,000.00. Following the sale, the director owned 3,792,171 shares in the company, valued at $16,495,943.85. The trade was a 30.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Opus Genetics Stock Up 4.2%
Shares of Opus Genetics stock opened at $4.44 on Thursday. The company has a market capitalization of $361.42 million, a price-to-earnings ratio of -3.34 and a beta of 0.62. Opus Genetics, Inc. has a 12-month low of $0.90 and a 12-month high of $5.81. The firm's 50-day moving average price is $4.97 and its two-hundred day moving average price is $3.40.
Opus Genetics (NASDAQ:IRD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $2.16 million for 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%. On average, sell-side analysts expect that Opus Genetics, Inc. will post -1 earnings per share for the current year.
Institutional Trading of Opus Genetics
A number of hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics during the 4th quarter worth approximately $25,000. Comerica Bank acquired a new position in shares of Opus Genetics in the 1st quarter worth approximately $29,000. Virtu Financial LLC acquired a new position in shares of Opus Genetics in the 4th quarter worth approximately $34,000. Raymond James Financial Inc. lifted its position in shares of Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company's stock valued at $37,000 after acquiring an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Opus Genetics during the 4th quarter valued at $40,000. 14.97% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on IRD shares. Wall Street Zen downgraded shares of Opus Genetics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Chardan Capital raised their price target on shares of Opus Genetics from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. B. Riley Financial restated a "buy" rating on shares of Opus Genetics in a research note on Thursday, April 30th. Craig Hallum set a $9.00 price target on shares of Opus Genetics and gave the company a "buy" rating in a research note on Wednesday, March 11th. Finally, Cantor Fitzgerald started coverage on shares of Opus Genetics in a research note on Monday, March 30th. They issued an "overweight" rating and a $15.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Opus Genetics has an average rating of "Moderate Buy" and an average price target of $10.20.
Read Our Latest Stock Analysis on IRD
About Opus Genetics
(
Get Free Report)
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.
Further Reading
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