Insider Selling: Opus Genetics (NASDAQ:IRD) Insider Sells $19,041.28 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) insider Ashwath Jayagopal sold 3,719 shares of Opus Genetics stock in a transaction on Monday, March 16th. The shares were sold at an average price of $5.12, for a total value of $19,041.28. Following the sale, the insider directly owned 516,775 shares of the company’s stock, valued at $2,645,888. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Opus Genetics Price Performance

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

Hedge Funds Weigh In On Opus Genetics

A number of large investors have recently modified their holdings of the company. BIOS Capital Management LP lifted its position in Opus Genetics by 270.1% in the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock worth $3,462,000 after buying an additional 2,688,180 shares during the last quarter. Voss Capital LP grew its position in Opus Genetics by 260.8% during the second quarter. Voss Capital LP now owns 541,159 shares of the company’s stock valued at $510,000 after acquiring an additional 391,159 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Opus Genetics during the fourth quarter worth approximately $25,000. ADAR1 Capital Management LLC purchased a new position in shares of Opus Genetics during the fourth quarter worth approximately $80,000. Finally, Blair William & Co. IL lifted its holdings 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 acquiring an additional 3,000 shares during the last quarter. 14.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IRD has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on shares of Opus Genetics in a research note on Monday. They issued an “outperform” rating and a $10.00 target price on the stock. Lifesci Capital raised shares of Opus Genetics to a “strong-buy” rating in a research note on Thursday, February 12th. Craig Hallum set a $9.00 price target on shares of Opus Genetics and gave the stock a “buy” rating in a report on Wednesday, March 11th. Piper Sandler started coverage on shares of Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 price objective on the stock. Finally, Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $9.33.

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.