Opus Genetics (NASDAQ:IRD – Get Free Report)‘s stock had its “market outperform” rating reissued by Citizens Jmp in a note issued to investors on Friday, Benzinga reports. They currently have a $17.00 target price on the stock. Citizens Jmp’s target price points to a potential upside of 332.02% from the stock’s current price.
IRD has been the topic of a number of other research reports. BTIG Research restated a “buy” rating and issued a $12.00 target price on shares of Opus Genetics in a research note on Wednesday, September 9th. Chardan Capital restated a “buy” rating and issued a $16.00 target price on shares of Opus Genetics in a research note on Friday, October 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Opus Genetics in a research note on Thursday. Wedbush upped their target price on Opus Genetics from $10.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday, September 10th. Finally, Wall Street Zen upgraded Opus Genetics from a “sell” rating to a “hold” rating in a research note on Sunday, October 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.71.
Check Out Our Latest Analysis on Opus Genetics
Opus Genetics Stock Down 2.8%
Shares of IRD traded down $0.12 during mid-day trading on Friday, reaching $3.94. The company had a trading volume of 433,143 shares, compared to its average volume of 1,423,251. Opus Genetics has a 52-week low of $1.70 and a 52-week high of $7.07. The stock has a market capitalization of $325.23 million, a P/E ratio of -2.91 and a beta of 0.62. The stock has a 50 day moving average of $4.50 and a two-hundred day moving average of $4.39.
Opus Genetics (NASDAQ:IRD – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.76 million during the quarter, compared to analysts’ expectations of $2.63 million. On average, sell-side analysts expect that Opus Genetics will post -0.97 earnings per share for the current year.
Insider Buying and Selling
In related news, CFO Robert E. Gagnon sold 28,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $4.54, for a total value of $127,120.00. Following the completion of the transaction, the chief financial officer owned 556,375 shares of the company’s stock, valued at approximately $2,525,942.50. This represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Fighting Blindness Foundation sold 556,000 shares of the company’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $4.96, for a total value of $2,757,760.00. Following the completion of the transaction, the director directly owned 3,236,171 shares of the company’s stock, valued at $16,051,408.16. The trade was a 14.66% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 613,331 shares of company stock valued at $2,971,509. 11.70% of the stock is owned by company insiders.
Hedge Funds Weigh In On Opus Genetics
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Opus Genetics during the second quarter valued at approximately $12,809,000. Nantahala Capital Management LLC acquired a new position in shares of Opus Genetics during the second quarter valued at approximately $12,582,185. Trails Edge Capital Partners LP acquired a new position in shares of Opus Genetics during the second quarter valued at approximately $11,276,434. ADAR1 Capital Management LLC raised its holdings in shares of Opus Genetics by 4,522.5% during the first quarter. ADAR1 Capital Management LLC now owns 1,849,004 shares of the company’s stock valued at $8,413,000 after acquiring an additional 1,809,004 shares during the last quarter. Finally, Opaleye Management Inc. raised its holdings in shares of Opus Genetics by 0.4% during the second quarter. Opaleye Management Inc. now owns 1,125,000 shares of the company’s stock valued at $4,624,000 after acquiring an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 14.97% of the company’s stock.
Opus Genetics Company Profile
Opus Genetics, Inc is a clinical-stage biotechnology company focused on developing gene therapies for inherited retinal diseases, a group of rare disorders that can cause progressive vision loss and blindness. The company’s research is centered on therapies intended to address the underlying genetic causes of these conditions rather than treating only their symptoms.
Opus Genetics is advancing an investigational pipeline of adeno-associated virus-based gene therapy candidates for diseases involving mutations in genes important to retinal function.
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