Opus Genetics (NASDAQ:IRD) CEO Sells $49,647.42 in Stock

Key Points

• CEO sale: Opus Genetics CEO George Magrath sold 9,511 shares for $49,647.42 at an average price of $5.22 on April 23 to cover tax withholding on vested equity, trimming his stake by 0.54% to 1,741,344 shares.
• Stock snapshot: IRD traded around $5.12 with a 1‑year range of $0.81–$5.81, a market cap of $365.6M and a negative P/E, reflecting a clinical‑stage biopharma profile and recent volatility.
• Analyst and institutional interest: Brokerages have raised price targets (e.g., Wedbush to $10, Chardan to $11) and MarketBeat shows a consensus rating of Moderate Buy with a $10.11 target, while hedge funds now own about 14.97% of the stock following several new or increased positions.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) CEO George Magrath sold 9,511 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $5.22, for a total transaction of $49,647.42. Following the completion of the sale, the chief executive officer directly owned 1,741,344 shares in the company, valued at approximately $9,089,815.68. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

George Magrath also recently made the following trade(s):

• On Monday, March 16th, George Magrath sold 24,438 shares of Opus Genetics stock. The shares were sold at an average price of $5.21, for a total transaction of $127,321.98.

Opus Genetics Stock Performance

Shares of NASDAQ:IRD traded down $0.11 during trading hours on Monday, reaching $5.12. The stock had a trading volume of 736,774 shares, compared to its average volume of 885,269. Opus Genetics, Inc. has a 1 year low of $0.81 and a 1 year high of $5.81. The firm's 50 day moving average is $4.67 and its 200-day moving average is $3.07. The stock has a market capitalization of $365.57 million, a price-to-earnings ratio of -6.24 and a beta of 0.52.

Wall Street Analyst Weigh In

A number of brokerages have commented on IRD. Wedbush increased their price objective on shares of Opus Genetics from $8.00 to $10.00 and gave the company an "outperform" rating in a research report on Thursday, March 12th. Wall Street Zen raised shares of Opus Genetics from a "sell" rating to a "hold" rating in a research report on Sunday, March 1st. Lifesci Capital raised shares of Opus Genetics to a "strong-buy" rating in a research report on Thursday, February 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Opus Genetics in a research report on Tuesday, April 21st. Finally, Chardan Capital increased their price objective on shares of Opus Genetics from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.11.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Opus Genetics in the 4th quarter valued at $34,000. Occudo Quantitative Strategies LP purchased a new position in shares of Opus Genetics in the 4th quarter valued at $25,000. Opaleye Management Inc. grew its position in shares of Opus Genetics by 1.8% in the 4th quarter. Opaleye Management Inc. now owns 1,120,000 shares of the company's stock valued at $2,251,000 after buying an additional 20,000 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Opus Genetics in the 4th quarter valued at $4,025,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Opus Genetics in the 4th quarter valued at $5,463,000. 14.97% of the stock is owned by hedge funds and other institutional investors.

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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