Key Points
- COO Joseph Schachle sold 4,767 Opus Genetics shares at an average price of $3.56, generating $16,970.52. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 286,673 shares.
- Opus Genetics shares were trading up 4.2% and opened at $3.46, compared with a 52-week range of $1.70 to $7.07. The company recently reported a quarterly loss of $0.14 per share, better than the $0.16 estimate, but revenue of $0.76 million fell short of expectations.
- Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $12.71, while institutional investors own 14.97% of the stock.
Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) COO Joseph Schachle sold 4,767 shares of the stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $3.56, for a total transaction of $16,970.52. Following the transaction, the chief operating officer directly owned 286,673 shares of the company's stock, valued at approximately $1,020,555.88. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Opus Genetics Trading Up 4.2%
Shares of IRD opened at $3.46 on Wednesday. Opus Genetics, Inc. has a 1-year low of $1.70 and a 1-year high of $7.07. The firm has a 50-day simple moving average of $4.49 and a two-hundred day simple moving average of $4.13.
Opus Genetics (NASDAQ:IRD - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. The company had revenue of $0.76 million during the quarter, compared to analysts' expectations of $2.63 million. As a group, research analysts expect that Opus Genetics, Inc. will post -0.97 EPS for the current fiscal year.
More Opus Genetics News
Here are the key news stories impacting Opus Genetics this week:
- Positive Sentiment: Wall Street brokerages now rate Opus Genetics a “Moderate Buy,” suggesting analysts see potential upside in the company’s gene-therapy pipeline and valuation. Opus Genetics Stock Now Rated Moderate Buy by Wall Street Brokerages
- Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests little evidence of meaningful bearish positioning, although the report’s description of a “significant increase” conflicts with the zero-share figure and limits its usefulness as a trading signal.
- Neutral Sentiment: Opus Genetics’ CEO, CFO, president and COO collectively sold approximately 61,547 shares worth $218,496 on October 23. Each filing stated that the sales were made to cover tax-withholding obligations tied to vested equity awards, rather than for discretionary liquidation. The executives continued to hold substantial positions after the transactions. CEO Form 4 filing CFO Form 4 filing
Hedge Funds Weigh In On Opus Genetics
Several institutional investors have recently bought and sold shares of IRD. Squarepoint Ops LLC purchased a new stake in Opus Genetics during the second quarter worth about $1,360,000. BlackRock Inc. acquired a new stake in shares of Opus Genetics during the second quarter worth about $12,809,000. Trails Edge Capital Partners LP acquired a new stake in shares of Opus Genetics during the second quarter worth about $11,276,434. ADAR1 Capital Management LLC purchased a new position in shares of Opus Genetics in the second quarter valued at approximately $7,331,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Opus Genetics in the second quarter valued at approximately $503,000. 14.97% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
IRD has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of Opus Genetics in a report on Wednesday, September 9th. Wedbush upped their price target on Opus Genetics from $10.00 to $13.00 and gave the stock an "outperform" rating in a research note on Thursday, September 10th. JonesTrading upped their price target on Opus Genetics from $10.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Royal Bank Of Canada lowered their price target on Opus Genetics from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Opus Genetics in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Opus Genetics currently has an average rating of "Moderate Buy" and a consensus price target of $12.71.
Check Out Our Latest Stock Report on Opus Genetics
Opus Genetics Company Profile
(
Get Free Report)
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 and blindness. The company's research is aimed at addressing the underlying genetic causes of these conditions rather than treating only their symptoms.
Its pipeline includes investigational ophthalmic gene therapies designed for specific IRD-causing mutations, including programs targeting conditions associated with the NR2E3 and BEST1 genes.
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