Insider Buying: Opus Genetics, Inc. (NASDAQ:IRD) CEO Acquires $91,196.94 in Stock

Opus Genetics, Inc. (NASDAQ:IRD) CEO George Magrath purchased 90,294 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average cost of $1.01 per share, for a total transaction of $91,196.94. Following the transaction, the chief executive officer now owns 483,244 shares of the company’s stock, valued at approximately $488,076.44. The trade was a 22.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 Price Performance

Shares of IRD stock opened at $0.98 on Friday. Opus Genetics, Inc. has a 12-month low of $0.85 and a 12-month high of $3.40. The company has a market cap of $31.07 million, a price-to-earnings ratio of -0.90 and a beta of 0.22.

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, beating the consensus estimate 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 business had revenue of $3.87 million during the quarter, compared to the consensus estimate of $1.17 million. On average, sell-side analysts anticipate that Opus Genetics, Inc. will post -1.22 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, HC Wainwright assumed coverage on shares of Opus Genetics in a research report on Wednesday, November 13th. They issued a “buy” rating and a $8.00 price objective on the stock.

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.