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

Shares of Omeros Co. (NASDAQ:OMER) gapped down before the market opened on Wednesday . The stock had previously closed at $9.15, but opened at $8.95. Omeros shares last traded at $8.93, with a volume of 53,837 shares changing hands.

Analyst Upgrades and Downgrades

OMER has been the topic of several recent research reports. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating 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 started 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. Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a research note on Thursday, November 14th. Finally, D. Boral Capital reissued a “buy” rating and issued a $36.00 price objective on shares of Omeros in a report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Omeros has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Omeros Trading Down 0.9 %

The stock has a market cap of $525.26 million, a price-to-earnings ratio of -3.92 and a beta of 2.01. The firm’s 50-day moving average is $9.55 and its two-hundred day moving average is $6.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Omeros during the 3rd quarter worth approximately $305,000. Barclays PLC grew its holdings in Omeros by 121.3% in the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 51,873 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Omeros in the 2nd quarter worth $105,000. SG Americas Securities LLC acquired a new position in Omeros in the 3rd quarter valued at about $80,000. Finally, SPC Financial Inc. purchased a new stake in shares of Omeros in the 3rd quarter valued at approximately $77,000. 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.