Insider Selling: Opus Genetics (NASDAQ:IRD) Insider Sells 3,719 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) insider Ashwath Jayagopal sold 3,719 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $5.12, for a total transaction of $19,041.28. Following the completion of the sale, the insider directly owned 516,775 shares of the company’s stock, valued at $2,645,888. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Opus Genetics Price Performance

NASDAQ IRD traded down $0.14 during trading on Wednesday, hitting $4.66. 922,949 shares of the company’s stock traded hands, compared to its average volume of 1,007,191. The stock has a fifty day moving average of $3.30 and a two-hundred day moving average of $2.39. Opus Genetics, Inc. has a 12-month low of $0.65 and a 12-month high of $5.30. The firm has a market cap of $331.56 million, a P/E ratio of -5.68 and a beta of 0.45.

Institutional Trading of Opus Genetics

Several large investors have recently modified their holdings of the business. BIOS Capital Management LP raised its position in Opus Genetics by 270.1% during the 2nd quarter. BIOS Capital Management LP now owns 3,683,429 shares of the company’s stock valued at $3,462,000 after purchasing an additional 2,688,180 shares during the last quarter. Voss Capital LP grew its position in shares of Opus Genetics by 260.8% in the 2nd quarter. Voss Capital LP now owns 541,159 shares of the company’s stock worth $510,000 after buying an additional 391,159 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Opus Genetics during the fourth quarter valued at approximately $25,000. ADAR1 Capital Management LLC purchased a new position in shares of Opus Genetics during the fourth quarter valued at approximately $80,000. Finally, Blair William & Co. IL raised its holdings in shares of Opus Genetics by 12.3% during the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after acquiring an additional 3,000 shares in the last quarter. 14.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IRD has been the subject of several analyst reports. BTIG Research increased their target price on Opus Genetics from $7.00 to $12.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Oppenheimer assumed coverage on Opus Genetics in a research report on Monday. They issued an “outperform” rating and a $10.00 price objective for the company. Craig Hallum set a $9.00 price objective on Opus Genetics and gave the company a “buy” rating in a research note on Wednesday, March 11th. B. Riley Financial began coverage on shares of Opus Genetics in a report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 target price on the stock. Finally, Brookline Capital Acquisition raised shares of Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $9.33.

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.