Opus Genetics (NASDAQ:IRD) COO Sells $24,518.34 in Stock

Key Points

• Opus Genetics COO Joseph Schachle sold 4,697 shares at an average price of $5.22 for a total of $24,518.34, a sale disclosed to the SEC that reduced his stake by 1.56% and was made to cover tax withholding on vested equity awards.
• Shares traded down about 2.1% to $5.12 on the report, with a market cap near $365.6 million and a 12‑month range of $0.81–$5.81.
• Analyst sentiment is broadly positive — the consensus rating is a "Moderate Buy" with a mean target price of $10.11, though individual ratings vary from sell to strong buy.

Opus Genetics, Inc. (NASDAQ:IRD - Get Free Report) COO Joseph Schachle sold 4,697 shares of the company's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $5.22, for a total value of $24,518.34. Following the completion of the sale, the chief operating officer directly owned 296,084 shares in the company, valued at approximately $1,545,558.48. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Opus Genetics Stock Down 2.1%

Shares of NASDAQ IRD traded down $0.11 during trading on Monday, reaching $5.12. The company had a trading volume of 736,774 shares, compared to its average volume of 885,269. Opus Genetics, Inc. has a 12-month low of $0.81 and a 12-month high of $5.81. The stock has a market cap of $365.57 million, a PE ratio of -6.24 and a beta of 0.52. The business's 50-day moving average is $4.67 and its 200 day moving average is $3.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on IRD. Oppenheimer began coverage on Opus Genetics in a research note on Monday, March 16th. They issued an "outperform" rating and a $10.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Opus Genetics in a research note on Tuesday, April 21st. Craig Hallum set a $9.00 target price on Opus Genetics and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Lifesci Capital raised Opus Genetics to a "strong-buy" rating in a research note on Thursday, February 12th. Finally, Wall Street Zen raised Opus Genetics from a "sell" rating to a "hold" rating in a report on Sunday, March 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Occudo Quantitative Strategies LP bought a new position in shares of Opus Genetics during the fourth quarter valued at $25,000. Comerica Bank bought a new position in shares of Opus Genetics during the first quarter valued at $29,000. Virtu Financial LLC bought a new position in shares of Opus Genetics during the fourth quarter valued at $34,000. Raymond James Financial Inc. lifted its holdings in shares of Opus Genetics by 95.6% during the third quarter. Raymond James Financial Inc. now owns 22,508 shares of the company's stock valued at $37,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Opus Genetics during the fourth quarter valued at $40,000. 14.97% of the stock is owned by institutional investors.

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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