Opus Genetics (NASDAQ:IRD) CEO George Magrath Sells 24,438 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath sold 24,438 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $5.21, for a total value of $127,321.98. Following the transaction, the chief executive officer owned 1,750,855 shares in the company, valued at approximately $9,121,954.55. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Opus Genetics Price Performance

Opus Genetics stock traded down $0.26 during trading hours on Thursday, reaching $4.41. The company had a trading volume of 204,907 shares, compared to its average volume of 988,480. Opus Genetics, Inc. has a 12-month low of $0.65 and a 12-month high of $5.30. The company has a 50-day moving average price of $3.35 and a 200 day moving average price of $2.41. The firm has a market cap of $313.42 million, a price-to-earnings ratio of -5.43 and a beta of 0.45.

Institutional Trading of Opus Genetics

Several large investors have recently added to or reduced their stakes in IRD. Nantahala Capital Management LLC increased its position in Opus Genetics by 42.9% during the 4th quarter. Nantahala Capital Management LLC now owns 4,781,330 shares of the company’s stock valued at $9,610,000 after purchasing an additional 1,435,407 shares during the period. BIOS Capital Management LP boosted its stake in shares of 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 in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Opus Genetics during the 4th quarter valued at about $5,463,000. Millennium Management LLC purchased a new position in shares of Opus Genetics during the fourth quarter valued at about $4,025,000. Finally, Mink Brook Asset Management LLC raised its stake in Opus Genetics by 34.5% in the fourth quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company’s stock worth $3,348,000 after buying an additional 427,684 shares in the last quarter. Institutional investors own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Wall Street Zen raised shares of Opus Genetics from a “sell” rating to a “hold” rating in a research report on Sunday, March 1st. Oppenheimer assumed coverage on shares of Opus Genetics in a research report on Monday. They issued an “outperform” rating and a $10.00 price objective on the stock. BTIG Research increased their target price on shares of Opus Genetics from $7.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. raised Opus Genetics to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Opus Genetics currently has a consensus rating of “Moderate 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.