Opus Genetics (NASDAQ:IRD) CFO Robert Gagnon Sells 7,842 Shares

Key Points

• CFO Robert Gagnon sold 7,842 shares on April 23 at an average price of $5.18 for $40,621.56 to cover tax withholding from vested equity, leaving him with 592,158 shares (a 1.31% reduction in his stake).
• Opus Genetics stock traded down about 2.1% to $5.12 mid-day, with a market capitalization of roughly $365.6 million, a negative P/E (‑6.24), and a 52-week range of $0.81–$5.81.
• Analysts carry an average rating of "Moderate Buy" with a $10.11 target price, while several hedge funds (e.g., Nantahala, Balyasny, Millennium) have recently increased positions and institutions own about 14.97% of the shares.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) CFO Robert Gagnon sold 7,842 shares of Opus Genetics stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.18, for a total value of $40,621.56. Following the sale, the chief financial officer owned 592,158 shares in the company, valued at $3,067,378.44. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Down 2.1%

Opus Genetics stock traded down $0.11 during mid-day trading on Monday, reaching $5.12. 736,774 shares of the company's stock were exchanged, compared to its average volume of 885,269. The business's fifty day simple moving average is $4.67 and its 200 day simple moving average is $3.07. The firm has a market capitalization of $365.57 million, a PE ratio of -6.24 and a beta of 0.52. Opus Genetics, Inc. has a one year low of $0.81 and a one year high of $5.81.

Institutional Trading of Opus Genetics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nantahala Capital Management LLC raised its stake in shares of 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. Balyasny Asset Management L.P. bought a new stake in shares of Opus Genetics during the 4th quarter valued at $5,463,000. Millennium Management LLC bought a new stake in shares of Opus Genetics during the 4th quarter valued at $4,025,000. Mink Brook Asset Management LLC raised its stake in shares of Opus Genetics by 34.5% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,665,631 shares of the company's stock valued at $3,348,000 after purchasing an additional 427,684 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Opus Genetics by 35.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,342,025 shares of the company's stock valued at $2,214,000 after purchasing an additional 349,825 shares during the period. 14.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IRD shares. BTIG Research boosted their target price on Opus Genetics from $7.00 to $12.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of Opus Genetics in a research note on Tuesday, April 21st. Wedbush boosted their target price on Opus Genetics from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Thursday, March 12th. Craig Hallum set a $9.00 target price on Opus Genetics and gave the company a "buy" rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen upgraded Opus Genetics from a "sell" rating to a "hold" rating in a research note on Sunday, March 1st. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $10.11.

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.

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