Opus Genetics (NASDAQ:IRD) President Benjamin Yerxa Sells 33,189 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) President Benjamin Yerxa sold 33,189 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $3.54, for a total transaction of $117,489.06. Following the transaction, the president owned 670,917 shares in the company, valued at $2,375,046.18. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Price Performance

Shares of NASDAQ:IRD opened at $3.46 on Wednesday. Opus Genetics, Inc. has a 12 month low of $1.70 and a 12 month high of $7.07. The stock’s 50 day moving average price is $4.49 and its 200 day moving average price is $4.13.

Opus Genetics (NASDAQ:IRD) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) 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 the consensus estimate of $2.63 million. Research analysts forecast that Opus Genetics, Inc. will post -0.97 EPS for the current fiscal year.

Key Stories Impacting Opus Genetics

Here are the key news stories impacting Opus Genetics this week:

• Positive Sentiment: Wall Street brokerages now rate Opus Genetics a “Moderate Buy,” suggesting analysts see potential upside in the company’s gene-therapy pipeline and valuation. Opus Genetics Stock Now Rated Moderate Buy by Wall Street Brokerages
• Neutral Sentiment: Reported short interest was listed at zero shares as of October 26, producing a zero-day days-to-cover ratio. This suggests little evidence of meaningful bearish positioning, although the report’s description of a “significant increase” conflicts with the zero-share figure and limits its usefulness as a trading signal.
• Neutral Sentiment: Opus Genetics’ CEO, CFO, president and COO collectively sold approximately 61,547 shares worth $218,496 on October 23. Each filing stated that the sales were made to cover tax-withholding obligations tied to vested equity awards, rather than for discretionary liquidation. The executives continued to hold substantial positions after the transactions. CEO Form 4 filing CFO Form 4 filing

Analysts Set New Price Targets

Several research analysts recently weighed in on IRD shares. Zacks Research raised Opus Genetics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. TD Cowen began coverage on shares of Opus Genetics in a research report on Wednesday, July 29th. They issued a “buy” rating on the stock. Citizens Jmp reissued a “market outperform” rating and issued a $17.00 price target on shares of Opus Genetics in a report on Friday, October 16th. Oppenheimer raised their price objective on shares of Opus Genetics from $10.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada reduced their price objective on shares of Opus Genetics from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Opus Genetics has an average rating of “Moderate Buy” and an average target price of $12.71.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanders Morris Harris LLC acquired a new stake in shares of Opus Genetics during the 3rd quarter valued at $58,000. Engineers Gate Manager LP bought a new stake in shares of Opus Genetics during the 2nd quarter worth $50,000. Stoneridge Investment Partners LLC bought a new stake in shares of Opus Genetics during the 2nd quarter worth $47,000. State of Wyoming acquired a new position in shares of Opus Genetics in the 2nd quarter worth $65,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Opus Genetics in the 2nd quarter worth $66,000. Institutional investors own 14.97% of the company’s stock.

Opus Genetics Company Profile

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.