2,743,658 Shares in Opus Genetics, Inc. $IRD Bought by Trails Edge Capital Partners LP

Trails Edge Capital Partners LP purchased a new position in shares of Opus Genetics, Inc. (NASDAQ:IRD) in the second quarter, HoldingsChannel reports. The fund purchased 2,743,658 shares of the company’s stock, valued at approximately $11,276,434,000. Opus Genetics comprises 1.8% of Trails Edge Capital Partners LP’s portfolio, making the stock its 22nd biggest holding.

Several other large investors have also added to or reduced their stakes in IRD. AWM Investment Company Inc. acquired a new position in shares of Opus Genetics in the second quarter valued at about $956,000. ADAR1 Capital Management LLC purchased a new position in shares of Opus Genetics in the second quarter worth about $7,331,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Opus Genetics during the second quarter worth about $66,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Opus Genetics during the second quarter worth about $504,000. Finally, BlackRock Inc. purchased a new stake in Opus Genetics in the second quarter valued at approximately $12,809,000. Hedge funds and other institutional investors own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IRD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Opus Genetics in a report on Friday, July 17th. Chardan Capital restated a “buy” rating and set a $13.00 price objective on shares of Opus Genetics in a research note on Monday, July 6th. BTIG Research restated a “buy” rating and set a $12.00 price objective on shares of Opus Genetics in a research note on Monday, July 6th. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Opus Genetics in a report on Wednesday, June 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $11.00 price objective on shares of Opus Genetics in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.69.

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, CEO George Magrath sold 9,475 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $2.95, for a total value of $27,951.25. Following the completion of the transaction, the chief executive officer owned 1,731,869 shares in the company, valued at approximately $5,109,013.55. 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 accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 29,331 shares of company stock valued at $86,629 in the last three months. Corporate insiders own 11.70% of the company’s stock.

Opus Genetics Price Performance

IRD opened at $4.11 on Wednesday. The firm has a fifty day moving average price of $3.76 and a 200 day moving average price of $4.24. Opus Genetics, Inc. has a 1 year low of $1.17 and a 1 year high of $5.81. The stock has a market cap of $339.69 million, a P/E ratio of -3.04 and a beta of 0.59.

Opus Genetics (NASDAQ:IRD) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.76 million for the quarter, compared to the consensus estimate of $2.63 million. Opus Genetics had a negative net margin of 1,091.82% and a negative return on equity of 338.88%. Equities analysts expect that Opus Genetics, Inc. will post -0.99 EPS for the current year.

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.