Short Interest in Omeros Co. (NASDAQ:OMER) Declines By 16.9%

Omeros Co. (NASDAQ:OMER) was the target of a large drop in short interest in November. As of November 30th, there was short interest totalling 8,920,000 shares, a drop of 16.9% from the November 15th total of 10,730,000 shares. Based on an average daily volume of 701,200 shares, the short-interest ratio is currently 12.7 days. Approximately 16.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Omeros Trading Down 10.1 %

Shares of OMER opened at $7.63 on Friday. The firm has a market cap of $442.16 million, a price-to-earnings ratio of -3.30 and a beta of 1.97. Omeros has a 52 week low of $2.61 and a 52 week high of $12.65. The stock has a 50 day moving average of $6.61 and a 200-day moving average of $5.01.

Hedge Funds Weigh In On Omeros

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Omeros by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock worth $5,318,000 after acquiring an additional 6,839 shares during the last quarter. State Street Corp raised its position in shares of Omeros by 0.3% during the 3rd quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock worth $4,867,000 after purchasing an additional 3,839 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Omeros by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock worth $1,926,000 after purchasing an additional 18,454 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Omeros by 16.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock valued at $887,000 after purchasing an additional 31,081 shares during the period. Finally, Rhumbline Advisers grew its stake in Omeros by 6.1% during the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after buying an additional 6,435 shares during the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

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.