Opus Genetics (IRD) Projected to Post Earnings on Monday

Opus Genetics (NASDAQ:IRD) is expected to be posting its results before the market opens on Monday, March 30th. Analysts expect Opus Genetics to post earnings of ($0.10) per share and revenue of $3.35 million for the quarter.

Opus Genetics Stock Performance

Shares of Opus Genetics stock opened at $4.35 on Friday. The firm’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $2.56. The firm has a market cap of $309.50 million, a P/E ratio of -5.30 and a beta of 0.45. Opus Genetics has a twelve month low of $0.65 and a twelve month high of $5.30.

Insider Buying and Selling

In other news, CEO George Magrath sold 24,438 shares of Opus Genetics stock in a transaction on Monday, March 16th. The stock was sold at an average price of $5.21, for a total value of $127,321.98. Following the completion of the sale, the chief executive officer directly owned 1,750,855 shares of the company’s stock, valued at approximately $9,121,954.55. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cam Gallagher bought 83,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were purchased at an average price of $1.97 per share, with a total value of $163,510.00. Following the transaction, the director owned 83,000 shares of the company’s stock, valued at $163,510. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 34,692 shares of company stock valued at $180,672. 6.60% of the stock is currently owned by company insiders.

Institutional Trading of Opus Genetics

Institutional investors have recently bought and sold shares of the business. Blair William & Co. IL raised its position in shares of 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 acquiring an additional 3,000 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Opus Genetics by 95.6% in the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after purchasing an additional 11,000 shares during the last quarter. Occudo Quantitative Strategies LP acquired a new stake in shares of Opus Genetics during the fourth quarter worth $25,000. Virtu Financial LLC bought a new stake in Opus Genetics in the fourth quarter valued at about $34,000. Finally, Johnson Investment Counsel Inc. bought a new stake in Opus Genetics in the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 14.97% of the company’s stock.

Wall Street Analyst Weigh In

IRD has been the topic of a number of analyst reports. Oppenheimer initiated coverage on Opus Genetics in a research report on Monday, March 16th. They issued an “outperform” rating and a $10.00 price target on the stock. upgraded Opus Genetics to a “strong-buy” rating in a research report on Monday, December 1st. Wall Street Zen raised Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, March 1st. Craig Hallum set a $9.00 target price on Opus Genetics and gave the stock a “buy” rating in a report on Wednesday, March 11th. Finally, Wedbush raised 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Opus Genetics currently has an average rating of “Moderate Buy” and an average target price of $9.33.

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.