Robert Gagnon Sells 28,000 Shares of Opus Genetics (NASDAQ:IRD) Stock

Key Points

• CFO Robert Gagnon sold 28,000 Opus Genetics shares at an average price of $4.54, generating $127,120. The sale covered tax-withholding obligations tied to vested equity awards and reduced his stake by 4.79%.
• Opus Genetics shares recently traded at $4.34, with a market capitalization of approximately $358.7 million and a 52-week range of $1.32 to $5.81.
• The company beat quarterly EPS estimates, reporting a loss of $0.14 per share versus the expected $0.16 loss, but revenue of $0.76 million was below the $2.63 million consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $10.69.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) CFO Robert Gagnon sold 28,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total transaction of $127,120.00. Following the completion of the transaction, the chief financial officer directly owned 556,375 shares of the company's stock, valued at $2,525,942.50. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Performance

Shares of IRD traded down $0.33 during mid-day trading on Tuesday, reaching $4.34. The company had a trading volume of 2,257,136 shares, compared to its average volume of 987,026. The company has a market capitalization of $358.69 million, a price-to-earnings ratio of -3.21 and a beta of 0.58. The company's 50 day simple moving average is $3.79 and its 200 day simple moving average is $4.29. Opus Genetics, Inc. has a 1-year low of $1.32 and a 1-year high of $5.81.

Opus Genetics (NASDAQ:IRD - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. Opus Genetics had a negative net margin of 1,091.82% and a negative return on equity of 338.88%. The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $2.63 million. As a group, equities analysts forecast that Opus Genetics, Inc. will post -0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IRD has been the subject of several recent research reports. Royal Bank Of Canada decreased their price target on shares of Opus Genetics from $10.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, August 7th. Wall Street Zen raised shares of Opus Genetics from a "sell" rating to a "hold" rating in a research note on Sunday, August 16th. Leerink Partners began coverage on Opus Genetics in a research report on Thursday, May 21st. They set an "outperform" rating and a $10.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $8.00 target price on shares of Opus Genetics in a report on Wednesday, June 17th. Finally, BTIG Research reiterated a "buy" rating and issued a $12.00 price target on shares of Opus Genetics in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Opus Genetics has an average rating of "Moderate Buy" and a consensus target price of $10.69.

Hedge Funds Weigh In On Opus Genetics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP acquired a new stake in Opus Genetics during the 4th quarter worth about $25,000. Comerica Bank acquired a new position in shares of Opus Genetics in the 1st quarter valued at about $29,000. Virtu Financial LLC bought a new stake in shares of Opus Genetics during the 4th quarter valued at about $34,000. Raymond James Financial Inc. grew its stake in Opus Genetics by 95.6% during the third 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 period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Opus Genetics during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 14.97% of the company's stock.

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.

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