Opus Genetics (NASDAQ:IRD) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Opus Genetics (NASDAQ:IRD) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

A number of other equities analysts have also issued reports on the company. Wedbush started coverage on Opus Genetics in a report on Wednesday, October 29th. They set an “outperform” rating and a $8.00 price target on the stock. Piper Sandler initiated coverage on Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday, January 22nd. B. Riley Financial began coverage on shares of Opus Genetics in a research report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective on the stock. Finally, Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $7.75.

Opus Genetics Stock Down 5.0%

Shares of NASDAQ:IRD opened at $3.39 on Friday. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $3.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $233.77 million, a P/E ratio of -1.80 and a beta of 0.58. The firm has a fifty day moving average price of $2.49 and a 200 day moving average price of $1.99.

Insiders Place Their Bets

In other Opus Genetics news, Director Cam Gallagher bought 83,000 shares of Opus Genetics stock in a transaction on Monday, December 29th. The stock was bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the completion of the acquisition, the director owned 83,000 shares in the company, valued at $163,510. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total transaction of $8,600,000.00. Following the transaction, the director directly owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Opus Genetics

Institutional investors and hedge funds have recently modified their holdings of the company. Occudo Quantitative Strategies LP purchased a new position in Opus Genetics in the 4th quarter valued at approximately $25,000. Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics in the fourth quarter valued at $40,000. Raymond James Financial Inc. increased its position in shares of 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 buying an additional 11,000 shares in the last quarter. Blair William & Co. IL raised its stake 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 worth $55,000 after buying an additional 3,000 shares during the last quarter. Finally, Comerica Bank acquired a new position in shares of Opus Genetics during the 1st quarter worth $29,000. Institutional investors and hedge funds 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.