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

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

A number of other brokerages also recently weighed in on IRD. Lifesci Capital upgraded shares of Opus Genetics to a “strong-buy” rating in a research report on Thursday, February 12th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 target price on shares of Opus Genetics in a research note on Wednesday, January 28th. Brookline Capital Acquisition upgraded shares of Opus Genetics to a “strong-buy” rating in a report on Monday, December 1st. Piper Sandler began coverage on shares of Opus Genetics in a report on Tuesday, November 25th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $7.75.

Opus Genetics Trading Up 15.9%

NASDAQ:IRD opened at $4.16 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.18. Opus Genetics has a 1-year low of $0.65 and a 1-year high of $4.17. The firm has a market capitalization of $286.87 million, a price-to-earnings ratio of -2.21 and a beta of 0.58. The business’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.08.

Insider Buying and Selling at Opus Genetics

In related news, Director Cam Gallagher acquired 83,000 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average cost 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fighting Blindness Foundation sold 4,000,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $11,808,167.65. This trade represents a 42.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Opus Genetics

A number of institutional investors have recently modified their holdings of IRD. Blair William & Co. IL boosted its position in shares of Opus Genetics by 12.3% during the fourth quarter. Blair William & Co. IL now owns 27,466 shares of the company’s stock worth $55,000 after buying an additional 3,000 shares during the period. 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 worth $37,000 after acquiring an additional 11,000 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Opus Genetics during the 4th quarter worth approximately $25,000. Virtu Financial LLC acquired a new stake in shares of Opus Genetics in the fourth quarter valued at approximately $34,000. Finally, Johnson Investment Counsel Inc. acquired a new stake in shares of Opus Genetics in the fourth quarter valued at approximately $40,000. 14.97% of the stock is currently 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.