Opus Genetics (NASDAQ:IRD) COO Sells $16,970.52 in Stock

Key Points

• COO Joseph Schachle sold 4,767 shares of Opus Genetics at an average price of $3.56, totaling $16,970.52. The sale covered tax-withholding obligations tied to vested equity awards, leaving him with 286,673 shares.
• Opus Genetics shares recently traded at $3.46, up 4.2%, but remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.14 per share, though it beat estimates, while revenue of $0.76 million fell short of expectations.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $12.71. Institutional investors own approximately 14.97% of the company.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) COO Joseph Schachle sold 4,767 shares of the company's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $3.56, for a total value of $16,970.52. Following the completion of the transaction, the chief operating officer directly owned 286,673 shares of the company's stock, valued at approximately $1,020,555.88. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Trading Up 4.2%

Shares of IRD traded up $0.14 on Tuesday, reaching $3.46. 1,303,302 shares of the company's stock traded hands, compared to its average volume of 1,430,392. The stock has a market cap of $285.96 million, a PE ratio of -2.56 and a beta of 0.62. The stock's 50 day simple moving average is $4.50 and its two-hundred day simple moving average is $4.11. Opus Genetics, Inc. has a 52-week low of $1.70 and a 52-week high of $7.07.

Opus Genetics (NASDAQ:IRD - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. Analysts forecast that Opus Genetics, Inc. will post -0.97 earnings per share for the current year.

Hedge Funds Weigh In On Opus Genetics

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Opus Genetics in the second quarter worth $12,809,000. Nantahala Capital Management LLC bought a new stake in shares of Opus Genetics in the second quarter valued at $12,582,185. Trails Edge Capital Partners LP bought a new stake in shares of Opus Genetics in the second quarter valued at $11,276,434. ADAR1 Capital Management LLC lifted its position in shares of Opus Genetics by 4,522.5% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company's stock valued at $8,413,000 after buying an additional 1,809,004 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Opus Genetics during the 2nd quarter valued at $1,360,000. 14.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on IRD. Chardan Capital reiterated a "buy" rating and set a $16.00 target price on shares of Opus Genetics in a research note on Thursday, October 22nd. TD Cowen started coverage on shares of Opus Genetics in a report on Wednesday, July 29th. They issued a "buy" rating on the stock. JonesTrading increased their price target on shares of Opus Genetics from $10.00 to $17.00 and gave the company a "buy" rating in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Opus Genetics from a "sell" rating to a "hold" rating in a report on Sunday, October 4th. Finally, Royal Bank Of Canada lowered their price objective on shares of Opus Genetics from $10.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.71.

About Opus Genetics

Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases (IRDs), a group of rare genetic disorders that can cause progressive vision loss and blindness. The company's research is aimed at addressing the underlying genetic causes of these conditions rather than treating only their symptoms.

Its pipeline includes investigational ophthalmic gene therapies designed for specific IRD-causing mutations, including programs targeting conditions associated with the NR2E3 and BEST1 genes.

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