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 company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $4.35, for a total value of $7,395,000.00. Following the sale, the director directly owned 3,792,171 shares in the company, valued at approximately $16,495,943.85. This represents a 30.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Opus Genetics Stock Performance

Shares of IRD stock traded up $0.18 on Wednesday, hitting $4.44. 540,639 shares of the stock traded hands, compared to its average volume of 1,026,177. Opus Genetics, Inc. has a 1-year low of $0.90 and a 1-year high of $5.81. The company’s fifty day moving average is $4.97 and its 200 day moving average is $3.40.

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). The firm had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.93 million. Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. As a group, equities research analysts predict that Opus Genetics, Inc. will post -1 EPS for the current year.

Institutional Investors Weigh In On Opus Genetics

Large investors have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics in the fourth quarter worth $25,000. Comerica Bank acquired a new stake in Opus Genetics in the first quarter worth $29,000. Virtu Financial LLC acquired a new stake in Opus Genetics in the fourth quarter worth $34,000. Raymond James Financial Inc. increased its position in Opus Genetics by 95.6% in the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after buying an additional 11,000 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics in the fourth quarter worth $40,000. 14.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IRD has been the topic of several research reports. Citizens Jmp dropped their price target on Opus Genetics from $12.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen lowered Opus Genetics from a “hold” rating to a “sell” rating in a research report on Saturday. Oppenheimer initiated coverage on Opus Genetics in a research report on Monday, March 16th. They set an “outperform” rating and a $10.00 price target on the stock. Cantor Fitzgerald assumed coverage on Opus Genetics in a research report on Monday, March 30th. They set an “overweight” rating and a $15.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.20.

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.