Joseph Schachle Sells 4,644 Shares of Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 4,644 shares of Opus Genetics stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $2.94, for a total value of $13,653.36. Following the sale, the chief operating officer directly owned 291,440 shares in the company, valued at $856,833.60. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Trading Up 1.8%

IRD stock opened at $3.47 on Thursday. Opus Genetics, Inc. has a 1-year low of $1.04 and a 1-year high of $5.81. The business’s 50 day moving average is $3.88 and its 200-day moving average is $4.04. The firm has a market cap of $286.50 million, a P/E ratio of -2.61 and a beta of 0.55.

Opus Genetics (NASDAQ:IRD) last posted its earnings results on Tuesday, May 12th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.59). The company had revenue of $2.16 million for the quarter, compared to the consensus estimate of $2.93 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 892.36%. Sell-side analysts forecast that Opus Genetics, Inc. will post -1.08 EPS for the current year.

Hedge Funds Weigh In On Opus Genetics

Several institutional investors have recently bought and sold shares of IRD. Comerica Bank acquired a new position in Opus Genetics in the first quarter worth $29,000. Royal Bank of Canada acquired a new stake in shares of Opus Genetics in the first quarter valued at $299,000. Nantahala Capital Management LLC raised its holdings in shares of Opus Genetics by 6.0% in the second quarter. Nantahala Capital Management LLC now owns 3,345,923 shares of the company’s stock valued at $3,152,000 after buying an additional 188,028 shares during the last quarter. Mink Brook Asset Management LLC raised its holdings in shares of Opus Genetics by 47.8% in the second quarter. Mink Brook Asset Management LLC now owns 1,197,616 shares of the company’s stock valued at $1,128,000 after buying an additional 387,536 shares during the last quarter. Finally, Opaleye Management Inc. lifted its position in Opus Genetics by 3.8% during the 2nd quarter. Opaleye Management Inc. now owns 1,220,000 shares of the company’s stock worth $1,149,000 after buying an additional 45,000 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on IRD shares. Guggenheim started coverage on Opus Genetics in a report on Thursday, June 4th. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a report on Friday, July 17th. BTIG Research reiterated a “buy” rating and set a $12.00 target price on shares of Opus Genetics in a research report on Monday, July 6th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Opus Genetics in a report on Wednesday, June 17th. Finally, Leerink Partners assumed coverage on shares of Opus Genetics in a research report on Thursday, May 21st. They issued an “outperform” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.77.

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.