Opus Genetics (NASDAQ:IRD) COO Joseph Schachle Sells 4,644 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) COO Joseph Schachle sold 4,644 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $2.94, for a total value of $13,653.36. Following the sale, the chief operating officer directly owned 291,440 shares in the company, valued at $856,833.60. This trade represents a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Price Performance

IRD opened at $3.41 on Wednesday. The stock has a market cap of $281.56 million, a P/E ratio of -2.56 and a beta of 0.55. The stock’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $4.03. Opus Genetics, Inc. has a 1-year low of $1.04 and a 1-year high of $5.81.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.59). The firm had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.93 million. Opus Genetics had a negative net margin of 892.36% and a negative return on equity of 338.88%. Research analysts expect that Opus Genetics, Inc. will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IRD shares. Citigroup began coverage on Opus Genetics in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. Chardan Capital reiterated a “buy” rating and issued a $13.00 price objective on shares of Opus Genetics in a research report on Monday, July 6th. Zacks Research cut shares of Opus Genetics from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Royal Bank Of Canada started coverage on shares of Opus Genetics in a report on Tuesday, June 23rd. They set an “outperform” rating and a $10.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of Opus Genetics in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.77.

Institutional Investors Weigh In On Opus Genetics

A number of large investors have recently bought and sold shares of IRD. Seven Fleet Capital Management LP purchased a new position in Opus Genetics during the first quarter worth $611,000. Bank of America Corp DE lifted its position in shares of Opus Genetics by 2,965.6% in the first quarter. Bank of America Corp DE now owns 67,015 shares of the company’s stock valued at $305,000 after acquiring an additional 64,829 shares in the last quarter. ADAR1 Capital Management LLC lifted its position in shares of Opus Genetics by 4,522.5% in the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock valued at $8,413,000 after acquiring an additional 1,809,004 shares in the last quarter. Regency Capital Management Inc. DE boosted its stake in shares of Opus Genetics by 47.8% during the first quarter. Regency Capital Management Inc. DE now owns 68,000 shares of the company’s stock valued at $309,000 after acquiring an additional 22,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Opus Genetics during the fourth quarter valued at $34,000. 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.