Opus Genetics (NASDAQ:IRD) CFO Robert Gagnon Sells 28,000 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) CFO Robert Gagnon sold 28,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the transaction, the chief financial officer owned 556,375 shares of the company’s stock, valued at approximately $2,525,942.50. This trade represents a 4.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Down 7.1%

IRD stock opened at $4.34 on Wednesday. The company’s 50-day simple moving average is $3.79 and its 200-day simple moving average is $4.29. Opus Genetics, Inc. has a 52-week low of $1.32 and a 52-week high of $5.81. The firm has a market cap of $358.70 million, a P/E ratio of -3.21 and a beta of 0.58.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $0.76 million during the quarter, compared to analyst estimates of $2.63 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 1,091.82%. On average, analysts anticipate that Opus Genetics, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IRD has been the subject of several research analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Opus Genetics in a research note on Monday, June 15th. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Opus Genetics in a report on Wednesday, June 17th. Zacks Research upgraded shares of Opus Genetics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.69.

Hedge Funds Weigh In On Opus Genetics

A number of hedge funds have recently made changes to their positions in IRD. Occudo Quantitative Strategies LP purchased a new position in shares of Opus Genetics in the fourth quarter valued at approximately $25,000. Stoneridge Investment Partners LLC purchased a new stake in shares of Opus Genetics during the second quarter worth approximately $47,000. State of Wyoming purchased a new stake in shares of Opus Genetics during the second quarter worth approximately $65,000. The Manufacturers Life Insurance Company acquired a new position in Opus Genetics in the 2nd quarter valued at $66,000. Finally, Virtu Financial LLC acquired a new position in Opus Genetics in the 4th quarter valued at $34,000. 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.