Opus Genetics (NASDAQ:IRD) President Benjamin Yerxa Sells 7,429 Shares

Opus Genetics, Inc. (NASDAQ:IRD) President Benjamin Yerxa sold 7,429 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $2.97, for a total transaction of $22,064.13. Following the transaction, the president directly owned 704,106 shares in the company, valued at approximately $2,091,194.82. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Up 1.8%

Shares of NASDAQ:IRD opened at $3.41 on Wednesday. The stock has a market cap of $281.56 million, a PE ratio of -2.56 and a beta of 0.55. The company’s fifty day moving average is $3.90 and its 200 day moving average is $4.03. Opus Genetics, Inc. has a 52 week low of $1.04 and a 52 week high of $5.81.

Opus Genetics (NASDAQ:IRD) last posted its quarterly earnings results 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). Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. The business had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.93 million. Sell-side analysts anticipate that Opus Genetics, Inc. will post -1.08 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on IRD shares. Chardan Capital reaffirmed a “buy” rating and issued a $13.00 price target on shares of Opus Genetics in a research note on Monday, July 6th. Royal Bank Of Canada assumed coverage on shares of Opus Genetics in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $10.00 target price on the stock. Leerink Partners initiated coverage on shares of Opus Genetics in a report on Thursday, May 21st. They set an “outperform” rating and a $10.00 price target for the company. Guggenheim started coverage on shares of Opus Genetics in a research report on Thursday, June 4th. They set a “buy” rating and a $16.00 price target for the company. Finally, Citigroup initiated coverage on shares of Opus Genetics in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.77.

Institutional Investors Weigh In On Opus Genetics

Several institutional investors and hedge funds have recently bought and sold shares of IRD. Occudo Quantitative Strategies LP purchased a new position in shares of Opus Genetics during the fourth quarter valued at approximately $25,000. Comerica Bank purchased a new stake in Opus Genetics in the first quarter worth $29,000. Virtu Financial LLC bought a new stake in Opus Genetics in the fourth quarter valued at $34,000. Raymond James Financial Inc. boosted its holdings in Opus Genetics by 95.6% in the third 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. Finally, Johnson Investment Counsel Inc. purchased a new position in Opus Genetics during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

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.