Opus Genetics (NASDAQ:IRD) Stock: Insider Joseph Schachle Sells 4,767 Shares

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 4,767 shares of Opus Genetics stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $3.56, for a total transaction of $16,970.52. Following the completion of the sale, the chief operating officer directly owned 286,673 shares of the company’s stock, valued at $1,020,555.88. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Up 6.4%

Shares of Opus Genetics stock opened at $3.68 on Thursday. Opus Genetics, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $7.07. The firm has a market cap of $304.15 million, a PE ratio of -2.73 and a beta of 0.62. The business’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.14.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings data 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 business had revenue of $0.76 million for the quarter, compared to analyst estimates of $2.63 million. Equities research analysts anticipate that Opus Genetics, Inc. will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Opus Genetics

Institutional investors have recently added to or reduced their stakes in the company. Miller Financial Services LLC increased its stake in Opus Genetics by 11.1% during the third quarter. Miller Financial Services LLC now owns 30,000 shares of the company’s stock worth $145,000 after acquiring an additional 3,000 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Opus Genetics in the 3rd quarter worth about $58,000. Opaleye Management Inc. raised its holdings in shares of Opus Genetics by 0.4% in the 2nd quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock worth $4,624,000 after purchasing an additional 5,000 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Opus Genetics in the 2nd quarter valued at about $50,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Opus Genetics in the 2nd quarter valued at about $1,360,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IRD shares. Wedbush raised their price target on Opus Genetics from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Oppenheimer upped their price objective on shares of Opus Genetics from $10.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, September 9th. TD Cowen assumed coverage on shares of Opus Genetics in a report on Wednesday, July 29th. They set a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Opus Genetics in a research report on Wednesday, September 9th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $17.00 target price on shares of Opus Genetics in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.71.

Opus Genetics Company Profile

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.