Omeros (NASDAQ:OMER) Shares Down 6.9% – Here’s What Happened

Omeros Corporation (NASDAQ:OMER)’s stock price traded down 6.9% during trading on Thursday . The stock traded as low as $9.52 and last traded at $9.6550. Approximately 129,164 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,605,151 shares. The stock had previously closed at $10.37.

Analyst Ratings Changes

A number of equities analysts have weighed in on OMER shares. Wall Street Zen lowered Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. HC Wainwright lowered their price target on shares of Omeros from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Finally, D. Boral Capital reissued a “buy” rating and issued a $36.00 price target on shares of Omeros in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Omeros Stock Performance

The stock has a market capitalization of $674.90 million, a price-to-earnings ratio of 13.32 and a beta of 2.55. The business has a 50-day moving average of $10.87 and a 200-day moving average of $11.81.

Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. Equities analysts predict that Omeros Corporation will post -0.94 earnings per share for the current fiscal year.

Insider Activity at Omeros

In other news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the sale, the director directly owned 35,067 shares in the company, valued at approximately $407,127.87. This trade represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Wyoming purchased a new stake in Omeros during the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Omeros during the 4th quarter worth approximately $33,000. Assetmark Inc. purchased a new position in shares of Omeros in the 1st quarter valued at $38,000. Arax Advisory Partners raised its stake in Omeros by 56.4% during the 4th quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,894 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in Omeros by 16.0% in the first quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Omeros Company Profile

Omeros Corporation is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of small-molecule and protein therapeutics. The company’s research programs target inflammation, complement-mediated diseases and disorders of the central nervous system. Omeros’s portfolio encompasses both internally discovered molecules and biologics, reflecting its commitment to advancing treatments for conditions with high unmet medical need.

Omeros’s first FDA-approved product, Omidria® (phenylephrine and ketorolac intraocular solution), is indicated to maintain pupil size by preventing intraoperative miosis and reducing postoperative pain in patients undergoing cataract surgery.