Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) CFO Robert Gagnon sold 28,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the transaction, the chief financial officer owned 556,375 shares in the company, valued at $2,525,942.50. The trade was a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Opus Genetics Price Performance
IRD opened at $4.34 on Wednesday. The company's 50 day simple moving average is $3.79 and its two-hundred day simple moving average is $4.29. Opus Genetics, Inc. has a 1-year low of $1.32 and a 1-year high of $5.81. The firm has a market capitalization of $358.70 million, a price-to-earnings ratio of -3.21 and a beta of 0.58.
Opus Genetics (NASDAQ:IRD - Get Free Report) last issued its earnings results 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 business had revenue of $0.76 million for the quarter, compared to analysts' expectations of $2.63 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 1,091.82%. On average, equities analysts anticipate that Opus Genetics, Inc. will post -0.99 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in IRD. Trails Edge Capital Partners LP purchased a new position in Opus Genetics in the second quarter worth approximately $11,276,434. BlackRock Inc. acquired a new stake in Opus Genetics during the second quarter worth $12,809,000. ADAR1 Capital Management LLC raised its position in Opus Genetics by 4,522.5% in the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company's stock valued at $8,413,000 after purchasing an additional 1,809,004 shares during the period. Nantahala Capital Management LLC purchased a new stake in Opus Genetics in the second quarter valued at $12,582,185. Finally, AWM Investment Company Inc. acquired a new position in shares of Opus Genetics in the 2nd quarter valued at $956,000. 14.97% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have weighed in on IRD shares. TD Cowen started coverage on Opus Genetics in a research note on Wednesday, July 29th. They set a "buy" rating on the stock. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a report on Sunday, August 16th. BTIG Research reissued a "buy" rating and set a $12.00 price target on shares of Opus Genetics in a research report on Monday, July 6th. Chardan Capital reissued a "buy" rating and set a $13.00 price target on shares of Opus Genetics in a research report on Monday, July 6th. Finally, Leerink Partners assumed coverage on shares of Opus Genetics in a report on Thursday, May 21st. They issued an "outperform" rating and a $10.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $10.69.
Read Our Latest Stock Report on IRD
Opus Genetics Company Profile
(
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.
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