Opus Genetics, Inc. (NASDAQ:IRD) CEO Buys $91,196.94 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath bought 90,294 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $1.01 per share, for a total transaction of $91,196.94. Following the acquisition, the chief executive officer now directly owns 483,244 shares of the company’s stock, valued at $488,076.44. The trade was a 22.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

George Magrath also recently made the following trade(s):

• On Monday, November 18th, George Magrath bought 9,706 shares of Opus Genetics stock. The stock was bought at an average cost of $1.02 per share, with a total value of $9,900.12.

Opus Genetics Stock Performance

Shares of NASDAQ:IRD opened at $0.98 on Thursday. Opus Genetics, Inc. has a twelve month low of $0.85 and a twelve month high of $3.40.

Opus Genetics (NASDAQ:IRD) last posted its earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.01. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The firm had revenue of $3.87 million for the quarter, compared to analyst estimates of $1.17 million. On average, research analysts forecast that Opus Genetics, Inc. will post -1.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright initiated coverage on shares of Opus Genetics in a research note on Wednesday, November 13th. They set a “buy” rating and a $8.00 price target on the stock.

Opus Genetics Company Profile

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.