Perceptive Advisors LLC Trims Holdings in Opus Genetics, Inc. $IRD

Perceptive Advisors LLC lowered its stake in shares of Opus Genetics, Inc. (NASDAQ:IRD) by 57.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,835,842 shares of the company’s stock after selling 2,489,158 shares during the quarter. Perceptive Advisors LLC’s holdings in Opus Genetics were worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ADAR1 Capital Management LLC raised its holdings in Opus Genetics by 4,522.5% in the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock valued at $8,413,000 after acquiring an additional 1,809,004 shares in the last quarter. Two Sigma Investments LP grew its holdings in Opus Genetics by 169.6% during the 3rd quarter. Two Sigma Investments LP now owns 108,338 shares of the company’s stock worth $179,000 after acquiring an additional 68,148 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in Opus Genetics during the 4th quarter worth $177,000. Blair William & Co. IL increased its position in shares of Opus Genetics by 12.3% in the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. bought a new stake in shares of Opus Genetics in the 4th quarter worth about $40,000. Institutional investors own 14.97% of the company’s stock.

Insider Transactions at Opus Genetics

In other news, Director Fighting Blindness Foundation sold 1,700,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $4.35, for a total transaction of $7,395,000.00. Following the completion of the transaction, the director directly owned 3,792,171 shares of the company’s stock, valued at approximately $16,495,943.85. This represents a 30.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Magrath sold 9,475 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total value of $27,951.25. Following the transaction, the chief executive officer directly owned 1,731,869 shares of the company’s stock, valued at $5,109,013.55. This trade represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,729,331 shares of company stock worth $7,481,629 in the last three months. 11.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IRD shares. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Opus Genetics in a research note on Wednesday, June 17th. B. Riley Financial reiterated a “buy” rating on shares of Opus Genetics in a research note on Thursday, April 30th. Zacks Research lowered Opus Genetics from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Citizens Jmp restated a “market outperform” rating and set a $11.00 price objective on shares of Opus Genetics in a research note on Monday, June 15th. Finally, Guggenheim started coverage on Opus Genetics in a report on Thursday, June 4th. They set a “buy” rating and a $16.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Opus Genetics currently has an average rating of “Moderate Buy” and an average target price of $10.77.

Opus Genetics Stock Performance

Opus Genetics stock opened at $3.71 on Friday. The firm’s 50-day moving average is $3.86 and its 200-day moving average is $4.05. Opus Genetics, Inc. has a 1 year low of $1.04 and a 1 year high of $5.81. The company has a market cap of $306.32 million, a P/E ratio of -2.79 and a beta of 0.55.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.59). Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. The business had revenue of $2.16 million for the quarter, compared to the consensus estimate of $2.93 million. As a group, sell-side analysts predict that Opus Genetics, Inc. will post -1.1 earnings per share for the current year.

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.