Omeros (NASDAQ:OMER) Shares Down 3.9% – Here’s Why

Omeros Co. (NASDAQ:OMER) fell 3.9% on Monday . The stock traded as low as $10.34 and last traded at $10.48. 196,614 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 491,331 shares. The stock had previously closed at $10.91.

Wall Street Analyst Weigh In

A number of research firms recently commented on OMER. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a research note on Thursday, November 14th. Rodman & Renshaw began coverage on Omeros in a research note on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective for the company. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. Finally, StockNews.com raised Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Stock Down 2.0 %

The company’s 50-day moving average is $4.83 and its 200 day moving average is $4.36. The company has a market cap of $690.18 million, a price-to-earnings ratio of -5.29 and a beta of 1.47.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its holdings in Omeros by 130.6% during the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 7,016 shares in the last quarter. MML Investors Services LLC boosted its holdings in Omeros by 19.2% in the 3rd quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 3,000 shares during the last quarter. SPC Financial Inc. purchased a new stake in Omeros during the 3rd quarter worth approximately $77,000. SG Americas Securities LLC acquired a new position in shares of Omeros during the third quarter valued at approximately $80,000. Finally, Comerica Bank lifted its position in shares of Omeros by 20.0% in the first quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

About Omeros

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.