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

Omeros Co. (NASDAQ:OMER)’s stock price fell 3.9% during mid-day trading on Monday . The company traded as low as $10.34 and last traded at $10.48. 196,614 shares changed 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.

Analysts Set New Price Targets

OMER has been the subject of several recent research reports. Rodman & Renshaw started 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 report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Omeros presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Price Performance

The stock’s fifty day moving average is $4.50 and its 200-day moving average is $4.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in shares of Omeros by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 30,102 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 12,951 shares during the last quarter. Vanguard Group Inc. lifted its position in Omeros by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock valued at $11,213,000 after buying an additional 81,348 shares during the last quarter. Comerica Bank boosted its stake in Omeros by 20.0% during the first quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 5,000 shares during the period. Cypress Capital Group increased its position in shares of Omeros by 40.0% during the second quarter. Cypress Capital Group now owns 35,000 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Omeros by 16.6% in 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 acquiring an additional 31,081 shares during the period. 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.