The Foundation Fighting Blindness Retinal Degeneration Fund, an entity connected to the broader Foundation Fighting Blindness, Inc., executed the sale of 1,700,000 shares of Opus Genetics, Inc. (NASDAQ:IRD) common stock on May 18, 2026. The proceeds from this transaction totaled $7,394,999, reflecting a selling price of $4.35 per share. It is noteworthy that the current market trading price for IRD stands at $4.45, which is slightly higher than the sale price, although shares have experienced an 11.7% decline over the past week. Despite this recent weekly dip, the stock has demonstrated a remarkable return of 347% when measured against its performance over the last year.
The relationship between the selling fund and Opus Genetics is structured through directorial involvement. Both the Foundation Fighting Blindness Retinal Degeneration Fund and Foundation Fighting Blindness, Inc. are considered directors of Opus Genetics by deputization status. This connection stems from key individuals serving on the company's board of directors. Specifically, Dr. Adrienne Graves chairs the board for the Retinal Degeneration Fund and also serves as a director for Foundation Fighting Blindness, Inc. Meanwhile, Dr. Jean Bennett is listed as a director for the Retinal Degeneration Fund.
Furthermore, the organizational structure clarifies that Foundation Fighting Blindness, Inc. acts as the sole member of the Retinal Degeneration Fund. Consequently, Foundation Fighting Blindness, Inc. may be considered to beneficially own any securities held directly by the Fund. The operational governance for the Fund's investments and voting decisions rests with its board of directors, though certain approval rights for transactions that exceed a specified threshold are retained by the board of directors of Foundation Fighting Blindness, Inc.
Following the divestiture of shares, the Foundation Fighting Blindness Retinal Degeneration Fund now holds 3,792,171 shares of Opus Genetics common stock. While institutional activity is observed, financial analysis from third parties presents a mixed picture. According to InvestingPro's assessment, which provides thirteen additional ProTips for IRD, the company currently maintains a weak financial health score despite demonstrating strong recent price momentum in the market.
In contrast to the fund's transaction and the current financial scoring, Opus Genetics has reported several significant clinical and regulatory achievements. The company recently showcased substantial progress during its gene therapy trials, reporting over 30-fold improvements in cone sensitivity for pediatric patients diagnosed with Leber congenital amaurosis type 5. These promising findings were formally presented at the Association for Research in Vision and Ophthalmology Annual Meeting in 2026.
Beyond these results, Opus Genetics has also advanced its developmental pipeline by completing enrollment for a Phase 1/2 study focused on OPGx-BEST1 gene therapy. This particular study targets two conditions: Best Vitelliform Macular Dystrophy and Autosomal-Recessive Bestrophinopathy. Adding to the regulatory momentum, the company's OPGx-LCA5 gene therapy received acceptance into the FDA’s Rare Disease Evidence Principles program. This program is designed specifically to accelerate the regulatory processes for therapies addressing patient populations that are small in size.
Analyzing the financial outlook, Citizens recently adjusted its price target for Opus Genetics shares. The firm lowered its target from $12 to $11 while concurrently maintaining a