Omeros (NASDAQ:OMER) Stock Price Down 4.4% – Should You Sell?

Omeros Co. (NASDAQ:OMER) dropped 4.4% during trading on Friday . The stock traded as low as $8.66 and last traded at $8.61. Approximately 99,645 shares traded hands during trading, a decline of 83% from the average daily volume of 578,914 shares. The stock had previously closed at $9.01.

Analysts Set New Price Targets

OMER has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a research note on Friday, January 17th. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. Finally, D. Boral Capital reiterated a “buy” rating and set a $36.00 price objective on shares of Omeros in a research report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.50.

Omeros Price Performance

The firm’s 50 day simple moving average is $9.72 and its two-hundred day simple moving average is $6.18.

Institutional Investors Weigh In On Omeros

Several institutional investors have recently bought and sold shares of OMER. Wellington Management Group LLP purchased a new stake in shares of Omeros during the third quarter valued at approximately $305,000. Barclays PLC raised its holdings in Omeros by 121.3% during the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 51,873 shares during the last quarter. Stordahl Capital Management Inc. purchased a new stake in Omeros during the 4th quarter valued at $395,000. AQR Capital Management LLC bought a new stake in Omeros in the 2nd quarter worth $105,000. Finally, SG Americas Securities LLC purchased a new position in shares of Omeros in the third quarter valued at about $80,000. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

Omeros Company Profile

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company’s products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.