Opus Genetics (NASDAQ:IRD) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Opus Genetics (NASDAQ:IRD) from a sell rating to a hold rating in a research report sent to investors on Sunday.

Several other equities research analysts have also issued reports on the stock. Piper Sandler assumed coverage on shares of Opus Genetics in a research report on Tuesday, November 25th. They set an “overweight” rating and a $7.00 target price for the company. B. Riley Financial began coverage on shares of Opus Genetics in a research report on Wednesday, December 10th. They set a “buy” rating and a $9.00 price objective on the stock. Lifesci Capital raised shares of Opus Genetics to a “strong-buy” rating in a report on Thursday, February 12th. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Finally, Chardan Capital restated a “buy” rating and set a $9.00 price target on shares of Opus Genetics in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.75.

Opus Genetics Stock Performance

NASDAQ:IRD opened at $4.16 on Friday. The stock has a market cap of $286.87 million, a P/E ratio of -2.21 and a beta of 0.44. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.09. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $4.17.

Insider Activity

In related news, Director Cam Gallagher bought 83,000 shares of the stock in a transaction dated Monday, December 29th. The stock was bought at an average price of $1.97 per share, with a total value of $163,510.00. Following the purchase, the director owned 83,000 shares in the company, valued at approximately $163,510. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2.15, for a total value of $8,600,000.00. Following the sale, the director owned 5,492,171 shares of the company’s stock, valued at $11,808,167.65. This represents a 42.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Opus Genetics

Large investors have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP purchased a new stake in shares of Opus Genetics during the fourth quarter valued at approximately $25,000. Virtu Financial LLC bought a new stake in Opus Genetics during the 4th quarter valued at $34,000. Johnson Investment Counsel Inc. bought a new stake in Opus Genetics during the 4th quarter valued at $40,000. Raymond James Financial Inc. boosted its position in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock valued at $37,000 after buying an additional 11,000 shares during the period. Finally, Blair William & Co. IL boosted its position in Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock valued at $55,000 after buying an additional 3,000 shares during the period. 14.97% of the stock is owned by hedge funds and other 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.