Opus Genetics (NASDAQ:IRD) CFO Sells $49,700.00 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) CFO Robert Gagnon sold 14,000 shares of the business’s stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $3.55, for a total value of $49,700.00. Following the transaction, the chief financial officer owned 542,375 shares in the company, valued at approximately $1,925,431.25. This represents a 2.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Down 0.8%

NASDAQ IRD opened at $3.65 on Friday. The stock has a market cap of $301.67 million, a PE ratio of -2.70 and a beta of 0.62. The business has a 50 day moving average price of $4.48 and a two-hundred day moving average price of $4.14. Opus Genetics, Inc. has a fifty-two week low of $1.70 and a fifty-two week high of $7.07.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.76 million for the quarter, compared to analyst estimates of $2.63 million. Sell-side analysts anticipate that Opus Genetics, Inc. will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in IRD. Squarepoint Ops LLC purchased a new stake in Opus Genetics in the 2nd quarter worth approximately $1,360,000. BlackRock Inc. acquired a new stake in shares of Opus Genetics during the 2nd quarter valued at $12,809,000. Trails Edge Capital Partners LP acquired a new stake in shares of Opus Genetics during the 2nd quarter valued at $11,276,434. Bank of New York Mellon Corp purchased a new position in shares of Opus Genetics during the 2nd quarter valued at $503,000. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Opus Genetics during the 2nd quarter valued at $7,331,000. Institutional investors and hedge funds own 14.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Chardan Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Opus Genetics in a research report on Thursday, October 22nd. Oppenheimer raised their price target 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. Zacks Research raised Opus Genetics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. TD Cowen began coverage on shares of Opus Genetics in a research note on Wednesday, July 29th. They set a “buy” rating 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, October 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Opus Genetics presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.71.

About Opus Genetics

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.