Insider Buying: Opus Genetics, Inc. (NASDAQ:IRD) CEO Purchases 90,294 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath bought 90,294 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.01 per share, with a total value of $91,196.94. Following the completion of the transaction, the chief executive officer now directly owns 483,244 shares in the company, valued at approximately $488,076.44. This represents a 22.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

George Magrath also recently made the following trade(s):

• On Monday, November 18th, George Magrath purchased 9,706 shares of Opus Genetics stock. The shares were acquired at an average cost of $1.02 per share, with a total value of $9,900.12.

Opus Genetics Stock Performance

NASDAQ IRD opened at $0.98 on Friday. The firm has a market cap of $31.07 million, a price-to-earnings ratio of -0.90 and a beta of 0.22. Opus Genetics, Inc. has a fifty-two week low of $0.85 and a fifty-two week high of $3.40.

Opus Genetics (NASDAQ:IRD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.01. The business had revenue of $3.87 million for the quarter, compared to analyst estimates of $1.17 million. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. As a group, sell-side analysts predict that Opus Genetics, Inc. will post -1.22 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright initiated coverage on shares of Opus Genetics in a report on Wednesday, November 13th. They issued a “buy” rating and a $8.00 target price for the company.

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.