Joseph Schachle Sells 3,719 Shares of Opus Genetics (NASDAQ:IRD) Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 3,719 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $5.25, for a total transaction of $19,524.75. Following the sale, the chief operating officer directly owned 300,781 shares in the company, valued at $1,579,100.25. This represents a 1.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Opus Genetics Price Performance

Shares of NASDAQ:IRD traded down $0.14 during trading on Wednesday, reaching $4.66. The stock had a trading volume of 922,949 shares, compared to its average volume of 1,007,191. The stock has a market capitalization of $331.56 million, a PE ratio of -5.68 and a beta of 0.45. Opus Genetics, Inc. has a 52 week low of $0.65 and a 52 week high of $5.30. The business’s 50-day moving average price is $3.30 and its 200 day moving average price is $2.39.

Institutional Investors Weigh In On Opus Genetics

Institutional investors and hedge funds have recently made changes to their positions in the company. Occudo Quantitative Strategies LP acquired a new position in shares of Opus Genetics during the fourth quarter valued at $25,000. Comerica Bank acquired a new stake in Opus Genetics in the first quarter worth about $29,000. Virtu Financial LLC bought a new stake in Opus Genetics during the 4th quarter worth about $34,000. Raymond James Financial Inc. raised its holdings in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in Opus Genetics during the 4th quarter valued at about $40,000. Institutional investors own 14.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IRD. Brookline Capital Acquisition upgraded Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a report on Sunday, March 1st. Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. Piper Sandler initiated coverage on shares of Opus Genetics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 target price for the company. Finally, Oppenheimer began coverage on shares of Opus Genetics in a research report on Monday. They set an “outperform” rating and a $10.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $9.33.

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.