Opus Genetics (NASDAQ:IRD) Rating Lowered to “Sell” at Wall Street Zen

Opus Genetics (NASDAQ:IRD) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

IRD has been the subject of a number of other reports. Chardan Capital reissued a “buy” rating and issued a $9.00 price target on shares of Opus Genetics in a report on Thursday, November 13th. Lifesci Capital upgraded Opus Genetics to a “strong-buy” rating in a research note on Thursday, February 12th. Wedbush assumed coverage on Opus Genetics in a research report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a report on Thursday, January 22nd. Finally, BTIG Research reaffirmed a “buy” rating and set a $7.00 target price on shares of Opus Genetics in a research note on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Opus Genetics has an average rating of “Buy” and an average target price of $7.75.

Opus Genetics Price Performance

Shares of IRD opened at $3.39 on Friday. The company has a market capitalization of $233.77 million, a P/E ratio of -1.80 and a beta of 0.58. The business’s 50-day moving average is $2.49 and its two-hundred day moving average is $2.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.23 and a current ratio of 1.23. Opus Genetics has a fifty-two week low of $0.65 and a fifty-two week high of $3.96.

Insider Buying and Selling

In other Opus Genetics news, Director Cam Gallagher bought 83,000 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the purchase, the director directly owned 83,000 shares in the company, valued at $163,510. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the sale, the director directly owned 5,492,171 shares of the company’s stock, valued at $11,808,167.65. The trade was a 42.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

Institutional investors and hedge funds have recently bought and sold shares of the business. Blair William & Co. IL grew its stake in Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares in the last quarter. Raymond James Financial Inc. grew its position 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 valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Opus Genetics in the fourth quarter valued at approximately $25,000. Johnson Investment Counsel Inc. purchased a new position in Opus Genetics during the fourth quarter worth approximately $40,000. Finally, Opaleye Management Inc. boosted its stake in Opus Genetics by 1.8% during the fourth quarter. Opaleye Management Inc. now owns 1,120,000 shares of the company’s stock worth $2,251,000 after buying an additional 20,000 shares during the last quarter. 14.97% of the stock is currently owned by institutional investors and hedge funds.

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.