Omeros (NASDAQ:OMER) Shares Gap Down – Should You Sell?

Omeros Co. (NASDAQ:OMER)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $12.15, but opened at $11.85. Omeros shares last traded at $11.85, with a volume of 1,188 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com raised Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Rodman & Renshaw began coverage on shares of Omeros in a report on Thursday, November 14th. They set a “buy” rating and a $9.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros 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. Finally, RODMAN&RENSHAW raised Omeros to a “strong-buy” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.00.

Omeros Price Performance

The stock has a market capitalization of $690.18 million, a P/E ratio of -5.16 and a beta of 1.47. The company’s 50-day simple moving average is $5.14 and its 200-day simple moving average is $4.46.

Institutional Investors Weigh In On Omeros

Several hedge funds have recently bought and sold shares of OMER. MML Investors Services LLC increased its position in Omeros by 19.2% during the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock worth $74,000 after buying an additional 3,000 shares during the last quarter. State Street Corp increased its holdings 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 acquiring an additional 3,839 shares during the last quarter. HighTower Advisors LLC raised its stake in Omeros by 7.2% in the 3rd quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company’s stock valued at $235,000 after acquiring an additional 4,000 shares during the period. Comerica Bank lifted its holdings in Omeros by 20.0% during 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. Finally, Rhumbline Advisers boosted its position in Omeros by 6.1% during the second quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after purchasing an additional 6,435 shares during the period. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.