Fighting Blindness Foundation Sells 1,700,000 Shares of Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics, Inc. (NASDAQ:IRD) Director Fighting Blindness Foundation sold 1,700,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $4.35, for a total value of $7,395,000.00. Following the completion of the sale, the director directly owned 3,792,171 shares of the company’s stock, valued at approximately $16,495,943.85. This represents a 30.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Opus Genetics Trading Down 3.4%

Shares of Opus Genetics stock opened at $4.29 on Friday. The stock has a 50-day moving average price of $4.96 and a 200 day moving average price of $3.41. The company has a market cap of $349.21 million, a P/E ratio of -3.23 and a beta of 0.62. Opus Genetics, Inc. has a 1 year low of $0.90 and a 1 year high of $5.81.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.59). The business had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.93 million. Opus Genetics had a negative return on equity of 338.88% and a negative net margin of 892.36%. On average, equities analysts forecast that Opus Genetics, Inc. will post -1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Opus Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Blair William & Co. IL increased its holdings in shares of Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Opus Genetics by 95.6% in the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after acquiring an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Opus Genetics in the 4th quarter valued at approximately $25,000. Virtu Financial LLC bought a new position in shares of Opus Genetics in the 4th quarter valued at approximately $34,000. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Opus Genetics in the 4th quarter valued at approximately $40,000. 14.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Leerink Partners assumed coverage on Opus Genetics in a research note on Thursday. They issued an “outperform” rating and a $10.00 price objective for the company. Zacks Research downgraded Opus Genetics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Citizens Jmp cut their price target on Opus Genetics from $12.00 to $11.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 13th. Craig Hallum set a $9.00 price target on Opus Genetics and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, BTIG Research raised their price target on Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.18.

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.