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

Omeros Co. (NASDAQ:OMER)’s share price gapped down before the market opened on Monday . The stock had previously closed at $11.68, but opened at $11.28. Omeros shares last traded at $10.79, with a volume of 214,863 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OMER shares. Rodman & Renshaw started coverage on shares of Omeros in a report on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a report on Thursday, December 19th. RODMAN&RENSHAW raised Omeros to a “strong-buy” rating in a report on Thursday, November 14th. StockNews.com raised shares of Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, D. Boral Capital initiated coverage on shares of Omeros in a research report on Monday, December 23rd. They set a “buy” rating and a $36.00 target price on the stock. Three research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Stock Performance

The firm has a market cap of $605.58 million, a price-to-earnings ratio of -4.52 and a beta of 1.97. The business has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $5.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMER. Bank of New York Mellon Corp raised its stake in shares of Omeros by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 218,580 shares of the biopharmaceutical company’s stock valued at $887,000 after buying an additional 31,081 shares during the period. Rhumbline Advisers lifted its position in Omeros by 6.1% during the second quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock valued at $454,000 after purchasing an additional 6,435 shares during the last quarter. AQR Capital Management LLC purchased a new position in Omeros in the 2nd quarter worth approximately $105,000. SG Americas Securities LLC bought a new position in shares of Omeros in the 3rd quarter worth $80,000. Finally, SPC Financial Inc. bought a new stake in shares of Omeros during the 3rd quarter worth $77,000. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

About Omeros

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.