Opus Genetics (NASDAQ:IRD) Director Fighting Blindness Foundation Sells 1,700,000 Shares

Opus Genetics, Inc. (NASDAQ:IRD) Director Fighting Blindness Foundation sold 1,700,000 shares of the 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 sale, the director owned 3,792,171 shares of the company’s stock, valued at approximately $16,495,943.85. The trade was a 30.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Opus Genetics Price Performance

Shares of IRD opened at $4.44 on Thursday. The company has a market capitalization of $361.42 million, a PE ratio of -3.34 and a beta of 0.62. Opus Genetics, Inc. has a one year low of $0.90 and a one year high of $5.81. The company’s fifty day moving average price is $4.97 and its 200 day moving average price is $3.40.

Opus Genetics (NASDAQ:IRD) last announced 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 firm had revenue of $2.16 million during 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%. Analysts anticipate that Opus Genetics, Inc. will post -1 earnings per share for the current year.

Institutional Trading of Opus Genetics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Occudo Quantitative Strategies LP bought a new stake in Opus Genetics during the fourth quarter worth $25,000. Virtu Financial LLC bought a new position in shares of Opus Genetics in the fourth quarter valued at about $34,000. Johnson Investment Counsel Inc. bought a new position in shares of Opus Genetics in the fourth quarter valued at about $40,000. Raymond James Financial Inc. increased its position in Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares during the period. Finally, Blair William & Co. IL increased its position in Opus Genetics by 12.3% during the fourth 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 period. 14.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IRD has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Opus Genetics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Oppenheimer assumed coverage on shares of Opus Genetics in a research note on Monday, March 16th. They set an “outperform” rating and a $10.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Opus Genetics in a research note on Tuesday, April 21st. B. Riley Financial reissued a “buy” rating on shares of Opus Genetics in a research note on Thursday, April 30th. Finally, Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Opus Genetics has a consensus rating of “Moderate Buy” and an average target price of $10.20.

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.