The stock of Opus Genetics Inc (NASDAQ: IRD) has increased by 3.85 when compared to last closing price of 1.04. Despite this, the company has experienced a 30.12% gain in its stock price over the last five trading sessions. globenewswire.com reported 2024-12-19 that Agreement Reached on Primary Endpoint and Phase 3 Trial Design Oral APX3330 is a Late-Stage Clinical Asset Available for Partnering FARMINGTON HILLS, Mich., Dec. 19, 2024 (GLOBE NEWSWIRE) — Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage ophthalmic biotechnology company developing gene therapies for the treatment of inherited retinal diseases (IRDs) and small-molecule drugs to treat other ophthalmologic disorders, today announced that it has reached agreement with the U.S. Food and Drug Administration (FDA) on a Special Protocol Assessment (SPA) for a Phase 3 clinical trial evaluating oral APX3330 for the treatment of moderate to severe non-proliferative diabetic retinopathy (NPDR).
Is It Worth Investing in Opus Genetics Inc (NASDAQ: IRD) Right Now?
Additionally, the 36-month beta value for IRD is 0.18. There are mixed opinions on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for IRD is 25.99M and currently, short sellers hold a 3.21% ratio of that float. The average trading volume of IRD on December 27, 2024 was 189.83K shares.
IRD’s Market Performance
IRD stock saw a decrease of 30.12% in the past week, with a monthly decline of -1.82% and a quarterly a decrease of -16.92%. The volatility ratio for the week is 13.41%, and the volatility levels for the last 30 days are 9.60% for Opus Genetics Inc (IRD). The simple moving average for the past 20 days is 0.50% for IRD’s stock, with a -28.27% simple moving average for the past 200 days.
Analysts’ Opinion of IRD
Many brokerage firms have already submitted their reports for IRD stocks, with H.C. Wainwright repeating the rating for IRD by listing it as a “Buy.” The predicted price for IRD in the upcoming period, according to H.C. Wainwright is $8 based on the research report published on November 13, 2024 of the current year 2024.
IRD Trading at -3.55% from the 50-Day Moving Average
After a stumble in the market that brought IRD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -68.23% of loss for the given period.
Volatility was left at 9.60%, however, over the last 30 days, the volatility rate increased by 13.41%, as shares sank -0.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.60% lower at present.
During the last 5 trading sessions, IRD rose by +30.12%, which changed the moving average for the period of 200-days by -49.53% in comparison to the 20-day moving average, which settled at $1.0746. In addition, Opus Genetics Inc saw -64.12% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IRD starting from YERXA BENJAMIN R, who purchase 10,000 shares at the price of $0.98 back on Nov 21 ’24. After this action, YERXA BENJAMIN R now owns 342,800 shares of Opus Genetics Inc, valued at $9,834 using the latest closing price.
Magrath George, the Chief Executive Officer of Opus Genetics Inc, purchase 90,294 shares at $1.01 during a trade that took place back on Nov 15 ’24, which means that Magrath George is holding 483,244 shares at $91,215 based on the most recent closing price.
Stock Fundamentals for IRD
Equity return is now at value -64.30, with -57.50 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 6.63.
Conclusion
In conclusion, Opus Genetics Inc (IRD) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
