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

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a research note on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a research note 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 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Omeros Stock Up 8.1 %

The stock has a 50 day simple moving average of $4.50 and a two-hundred day simple moving average of $4.24.

Institutional Investors Weigh In On Omeros

Several institutional investors have recently added to or reduced their stakes in OMER. Vanguard Group Inc. raised its holdings in Omeros by 2.6% during the first quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock worth $11,213,000 after purchasing an additional 81,348 shares in the last quarter. Geode Capital Management LLC raised its stake in Omeros by 0.5% during the 3rd 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 in the last quarter. State Street Corp raised its stake in 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 acquiring an additional 3,839 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Omeros by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock valued at $1,926,000 after acquiring an additional 18,454 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Omeros by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock worth $887,000 after purchasing an additional 31,081 shares during the last quarter. Hedge funds and other institutional investors 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.