Opus Genetics (NASDAQ:IRD) Cut to “Sell” at Wall Street Zen

Opus Genetics (NASDAQ:IRD) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

IRD has been the topic of a number of other reports. Wedbush began coverage on shares of Opus Genetics in a research note on Wednesday, October 29th. They issued an “outperform” rating and a $8.00 target price on the stock. Piper Sandler started coverage on Opus Genetics in a research note on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 target price on the stock. Chardan Capital reissued a “buy” rating and set a $9.00 price target on shares of Opus Genetics in a research report on Thursday, November 13th. BTIG Research reissued a “buy” rating and set a $7.00 target price on shares of Opus Genetics in a research report on Wednesday, January 28th. Finally, B. Riley Financial began coverage on Opus Genetics in a research report on Wednesday, December 10th. They issued a “buy” rating and a $9.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.75.

Opus Genetics Stock Down 5.0%

Shares of IRD opened at $3.39 on Friday. Opus Genetics has a 52-week low of $0.65 and a 52-week high of $3.96. 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 has a fifty day moving average of $2.49 and a 200 day moving average of $1.99. The company has a market cap of $233.77 million, a PE ratio of -1.80 and a beta of 0.58.

Insider Buying and Selling at Opus Genetics

In other Opus Genetics news, Director Cam Gallagher purchased 83,000 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were purchased at an average cost of $1.97 per share, for a total transaction of $163,510.00. Following the completion of the transaction, the director owned 83,000 shares of the company’s stock, valued at $163,510. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of Opus Genetics stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2.15, for a total value of $8,600,000.00. Following the transaction, the director owned 5,492,171 shares in the company, valued at approximately $11,808,167.65. The trade was a 42.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blair William & Co. IL grew its stake in Opus Genetics by 12.3% during the 4th quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after purchasing an additional 3,000 shares in the last quarter. Raymond James Financial Inc. grew its holdings in Opus Genetics by 95.6% during the 3rd quarter. Raymond James Financial Inc. now owns 22,508 shares of the company’s stock worth $37,000 after acquiring an additional 11,000 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Opus Genetics during the 4th quarter worth about $25,000. Johnson Investment Counsel Inc. purchased a new position in Opus Genetics in the fourth quarter valued at approximately $40,000. Finally, Opaleye Management Inc. raised its stake in Opus Genetics by 1.8% during the 4th quarter. Opaleye Management Inc. now owns 1,120,000 shares of the company’s stock worth $2,251,000 after acquiring an additional 20,000 shares in the last quarter. 14.97% of the stock is currently owned by hedge funds and other institutional investors.

Opus Genetics Company Profile

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.