Omeros (NASDAQ:OMER) Trading Down 6.2% – Here’s What Happened

Omeros Co. (NASDAQ:OMER)’s stock price dropped 6.2% during trading on Tuesday . The company traded as low as $11.00 and last traded at $11.21. Approximately 287,675 shares changed hands during trading, a decline of 43% from the average daily volume of 508,039 shares. The stock had previously closed at $11.95.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Rodman & Renshaw initiated coverage on Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target on the stock. StockNews.com upgraded shares of Omeros from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Omeros in a research report on Thursday, November 14th. Finally, RODMAN&RENSHAW raised shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Three equities 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Trading Down 10.3 %

The firm has a market capitalization of $621.22 million, a price-to-earnings ratio of -4.81 and a beta of 1.96. The stock has a fifty day moving average of $5.46 and a 200-day moving average of $4.58.

Institutional Investors Weigh In On Omeros

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Omeros by 130.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock valued at $49,000 after buying an additional 7,016 shares during the last quarter. MML Investors Services LLC lifted its stake in Omeros by 19.2% in the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock valued at $74,000 after acquiring an additional 3,000 shares during the last quarter. SPC Financial Inc. bought a new stake in Omeros in the third quarter worth approximately $77,000. SG Americas Securities LLC acquired a new position in shares of Omeros during the 3rd quarter worth $80,000. Finally, Comerica Bank lifted its stake in shares of Omeros by 20.0% in the 1st quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 5,000 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.