Insider Buying: Opus Genetics, Inc. (NASDAQ:IRD) CEO Purchases 100,000 Shares of Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath purchased 100,000 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $0.98 per share, for a total transaction 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 $587,167. This represents a 20.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 18th, George Magrath acquired 9,706 shares of Opus Genetics stock. The stock was acquired 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 acquired at an average price of $1.01 per share, with a total value of $91,196.94.

Opus Genetics Stock Performance

Shares of IRD stock opened at $1.12 on Tuesday. Opus Genetics, Inc. has a 1 year low of $0.81 and a 1 year high of $3.40. The stock has a market cap of $35.36 million, a price-to-earnings ratio of -1.03 and a beta of 0.19.

Opus Genetics (NASDAQ:IRD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.87 million for the quarter, compared to the consensus estimate of $1.17 million. Analysts predict that Opus Genetics, Inc. will post -1.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.