Insider Selling: Opus Genetics (NASDAQ:IRD) Insider Sells 2,816 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) insider Rabourn Amy Zaremba sold 2,816 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $5.25, for a total value of $14,784.00. Following the sale, the insider owned 190,312 shares of the company’s stock, valued at $999,138. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Opus Genetics Stock Down 2.9%

Shares of NASDAQ IRD traded down $0.14 during midday trading on Wednesday, hitting $4.66. The stock had a trading volume of 922,949 shares, compared to its average volume of 1,007,191. Opus Genetics, Inc. has a 1-year low of $0.65 and a 1-year high of $5.30. The company has a market capitalization of $331.56 million, a price-to-earnings ratio of -5.68 and a beta of 0.45. The company has a fifty day moving average price of $3.30 and a 200 day moving average price of $2.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IRD shares. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. Piper Sandler began coverage on Opus Genetics in a research report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 target price for the company. Chardan Capital increased their target price on Opus Genetics from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. Finally, Oppenheimer started coverage on Opus Genetics in a report on Monday. They set an “outperform” rating and a $10.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.33.

Hedge Funds Weigh In On Opus Genetics

Institutional investors have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP purchased a new position in Opus Genetics in the 4th quarter valued at about $25,000. Virtu Financial LLC acquired a new stake in shares of Opus Genetics during the fourth quarter valued at about $34,000. Johnson Investment Counsel Inc. purchased a new stake in shares of Opus Genetics during the fourth quarter worth about $40,000. Raymond James Financial Inc. lifted its stake in shares of Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Opus Genetics by 12.3% in the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.

About Opus Genetics

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.