Benjamin Yerxa Sells 7,429 Shares of Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics, Inc. (NASDAQ:IRD) President Benjamin Yerxa sold 7,429 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $2.97, for a total value of $22,064.13. Following the completion of the sale, the president owned 704,106 shares in the company, valued at approximately $2,091,194.82. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Price Performance

IRD stock opened at $3.47 on Thursday. The stock has a market capitalization of $286.50 million, a P/E ratio of -2.61 and a beta of 0.55. Opus Genetics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $5.81. The business has a 50-day moving average of $3.88 and a 200-day moving average of $4.04.

Opus Genetics (NASDAQ:IRD) last announced its earnings results on Tuesday, May 12th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.59). The firm had revenue of $2.16 million during the quarter, compared to analyst estimates of $2.93 million. Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. Equities analysts expect that Opus Genetics, Inc. will post -1.08 EPS for the current year.

Analyst Upgrades and Downgrades

IRD has been the topic of a number of recent research reports. Zacks Research downgraded shares of Opus Genetics from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Friday, July 17th. Royal Bank Of Canada assumed coverage on Opus Genetics in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $10.00 target price on the stock. Citizens Jmp restated a “market outperform” rating and set a $11.00 target price on shares of Opus Genetics in a report on Monday, June 15th. Finally, Wall Street Zen downgraded Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. bought a new position in shares of Opus Genetics during the fourth quarter worth approximately $5,463,000. Millennium Management LLC bought a new stake in shares of Opus Genetics during the 4th quarter worth $4,025,000. ADAR1 Capital Management LLC lifted its holdings in shares of 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 worth $8,413,000 after acquiring an additional 1,809,004 shares during the last quarter. Nantahala Capital Management LLC boosted its position in Opus Genetics by 42.9% in the fourth quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock valued at $9,610,000 after buying an additional 1,435,407 shares in the last quarter. Finally, Mink Brook Asset Management LLC boosted its holdings in shares of Opus Genetics by 34.5% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock valued at $3,348,000 after acquiring an additional 427,684 shares in the last quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.

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.