Opus Genetics, Inc. (NASDAQ:IRD) CEO Buys $98,000.00 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath bought 100,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were acquired at an average cost of $0.98 per share, with a total value of $98,000.00. Following the completion of the purchase, the chief executive officer now owns 599,150 shares of the company’s stock, valued at approximately $587,167. The trade was a 20.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 18th, George Magrath bought 9,706 shares of Opus Genetics stock. The stock was bought at an average price of $1.02 per share, for a total transaction of $9,900.12.
• On Friday, November 15th, George Magrath bought 90,294 shares of Opus Genetics stock. The shares were bought at an average cost of $1.01 per share, with a total value of $91,196.94.

Opus Genetics Stock Performance

Shares of NASDAQ:IRD traded down $0.06 during mid-day trading on Monday, hitting $1.12. The stock had a trading volume of 181,008 shares, compared to its average volume of 183,168. Opus Genetics, Inc. has a 12-month low of $0.81 and a 12-month high of $3.40. The company has a market cap of $35.36 million, a PE ratio of -1.03 and a beta of 0.19.

Opus Genetics (NASDAQ:IRD) last released its earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. Opus Genetics had a negative return on equity of 63.65% and a negative net margin of 324.45%. The company had revenue of $3.87 million during the quarter, compared to analyst estimates of $1.17 million. On average, equities analysts predict that Opus Genetics, Inc. will post -1.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Opus Genetics in a report on Thursday, December 12th.

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.