Omeros (NASDAQ:OMER) Stock Price Down 6.4% – What’s Next?

Omeros Co. (NASDAQ:OMER) shares traded down 6.4% on Wednesday . The stock traded as low as $9.78 and last traded at $9.87. 356,234 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 510,408 shares. The stock had previously closed at $10.54.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OMER. Rodman & Renshaw initiated coverage on shares of Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target on the stock. Cantor Fitzgerald reiterated 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. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Trading Down 10.1 %

The company has a 50 day simple moving average of $6.53 and a 200 day simple moving average of $4.97. The stock has a market cap of $442.16 million, a P/E ratio of -3.29 and a beta of 1.97.

Institutional Investors Weigh In On Omeros

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in Omeros by 130.6% during the third quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company’s stock worth $49,000 after acquiring an additional 7,016 shares in the last quarter. MML Investors Services LLC increased its position in shares of Omeros by 19.2% during the 3rd quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 3,000 shares during the last quarter. SPC Financial Inc. bought a new stake in shares of Omeros during the 3rd quarter worth approximately $77,000. SG Americas Securities LLC acquired a new stake in shares of Omeros in the 3rd quarter valued at approximately $80,000. Finally, AQR Capital Management LLC bought a new position in shares of Omeros in the second quarter valued at $105,000. 48.79% of the stock is owned by 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.