Key Points
- Opus Genetics CEO George Magrath sold 28,258 shares for about $110,206 at an average price of $3.90; the sale covered tax withholding on vested equity awards. He retained 2,010,636 shares.
- The company reported quarterly EPS of -$0.14, beating the -$0.16 consensus estimate, but revenue of $0.76 million fell short of analysts’ $2.63 million expectation.
- Analysts’ consensus rating is “Moderate Buy,” with an average price target of $12.71; individual ratings range from “Sell” to “Strong Buy.”
Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) CEO George Magrath sold 28,258 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $3.90, for a total transaction of $110,206.20. Following the completion of the transaction, the chief executive officer owned 2,010,636 shares of the company's stock, valued at approximately $7,841,480.40. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
George Magrath also recently made the following trade(s):
- On Friday, October 23rd, George Magrath sold 9,591 shares of Opus Genetics stock. The shares were sold at an average price of $3.58, for a total transaction of $34,335.78.
Opus Genetics Stock Down 6.1%
IRD opened at $4.01 on Friday. Opus Genetics, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $7.07. The company has a fifty day moving average of $4.47 and a two-hundred day moving average of $4.19.
Opus Genetics (NASDAQ:IRD - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.76 million for the quarter, compared to analysts' expectations of $2.63 million. Sell-side analysts predict that Opus Genetics, Inc. will post -0.97 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Opus Genetics
A number of institutional investors and hedge funds have recently bought and sold shares of IRD. BlackRock Inc. purchased a new position in shares of Opus Genetics during the 2nd quarter worth $12,809,000. Nantahala Capital Management LLC purchased a new position in shares of Opus Genetics during the 2nd quarter worth approximately $12,582,185. Trails Edge Capital Partners LP acquired a new position in Opus Genetics during the second quarter worth $11,276,434. ADAR1 Capital Management LLC lifted its stake in Opus Genetics by 4,522.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company's stock worth $8,413,000 after purchasing an additional 1,809,004 shares in the last quarter. Finally, Opaleye Management Inc. boosted its position in shares of Opus Genetics by 0.4% during 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. 14.97% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on IRD shares. Chardan Capital reaffirmed a "buy" rating and issued a $16.00 price target on shares of Opus Genetics in a report on Thursday, October 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Opus Genetics in a report on Thursday, October 15th. Royal Bank Of Canada dropped their price objective on Opus Genetics from $10.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, August 7th. Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a research report on Sunday, October 4th. Finally, TD Cowen assumed coverage on Opus Genetics in a research note on Wednesday, July 29th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.71.
Get Our Latest Research 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.
Further Reading
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