Insider Selling: Opus Genetics (NASDAQ:IRD) President Sells $39,142.80 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) President Benjamin Yerxa sold 7,470 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.24, for a total value of $39,142.80. Following the completion of the sale, the president directly owned 711,535 shares in the company, valued at $3,728,443.40. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Performance

IRD opened at $4.67 on Thursday. The stock’s fifty day moving average is $4.74 and its 200-day moving average is $3.12. The company has a market capitalization of $333.45 million, a PE ratio of -5.70 and a beta of 0.52. Opus Genetics, Inc. has a one year low of $0.87 and a one year high of $5.81.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC grew its holdings in shares of Opus Genetics by 42.9% during 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. Balyasny Asset Management L.P. purchased a new position in shares of Opus Genetics during the fourth quarter valued at $5,463,000. Millennium Management LLC purchased a new position in shares of Opus Genetics during the fourth quarter valued at $4,025,000. Mink Brook Asset Management LLC grew its holdings in shares of Opus Genetics by 34.5% during the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock valued at $3,348,000 after buying an additional 427,684 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Opus Genetics by 35.3% during the third quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company’s stock valued at $2,214,000 after buying an additional 349,825 shares in the last quarter. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IRD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Opus Genetics in a research report on Tuesday, April 21st. Craig Hallum set a $9.00 target price on Opus Genetics and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Lifesci Capital raised Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Chardan Capital boosted their target price on Opus Genetics from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. Finally, Oppenheimer began coverage on Opus Genetics in a research report on Monday, March 16th. They set an “outperform” rating and a $10.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Opus Genetics presently has a consensus rating of “Moderate Buy” and an average target price of $10.30.

About Opus Genetics

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.