Omeros (NASDAQ:OMER) Trading Down 6.4% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on OMER. Rodman & Renshaw began coverage on Omeros in a research note on Thursday, November 14th. They issued a “buy” rating and a $9.00 price objective 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 report on Thursday, November 14th. RODMAN&RENSHAW raised shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Finally, StockNews.com raised Omeros from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Three 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Omeros Stock Performance

The stock’s fifty day simple moving average is $6.53 and its 200-day simple moving average is $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.

Hedge Funds Weigh In On Omeros

A number of hedge funds have recently added to or reduced their stakes in the stock. MML Investors Services LLC lifted 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 valued at $74,000 after acquiring an additional 3,000 shares during the period. State Street Corp lifted its position in Omeros by 0.3% during the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock worth $4,867,000 after purchasing an additional 3,839 shares during the period. HighTower Advisors LLC grew its stake in Omeros by 7.2% during the third quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 4,000 shares in the last quarter. Comerica Bank increased its holdings in Omeros by 20.0% in the 1st quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 5,000 shares during the period. Finally, Rhumbline Advisers raised its position in shares of Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock valued at $454,000 after buying an additional 6,435 shares in the last quarter. 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.