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

Omeros Co. (NASDAQ:OMER)’s stock 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 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 Upgrades and Downgrades

A number of research firms recently commented on OMER. Cantor Fitzgerald restated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. StockNews.com upgraded Omeros from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Omeros in a report on Thursday, November 14th. Rodman & Renshaw began coverage on Omeros in a report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target on the stock. Finally, RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Omeros has an average rating of “Moderate Buy” and an average target price of $9.00.

Omeros Stock Down 14.5 %

The company has a market capitalization of $522.13 million, a P/E ratio of -3.97 and a beta of 1.97. The firm has a 50-day moving average price of $6.20 and a two-hundred day moving average price of $4.86.

Institutional Investors Weigh In On Omeros

Hedge funds have recently modified their holdings of the business. Comerica Bank boosted its position in shares of Omeros by 20.0% in the first quarter. Comerica Bank now owns 30,000 shares of the biopharmaceutical company’s stock valued at $104,000 after acquiring an additional 5,000 shares during the period. Vanguard Group Inc. lifted its position in Omeros by 2.6% in the first quarter. Vanguard Group Inc. now owns 3,250,284 shares of the biopharmaceutical company’s stock worth $11,213,000 after purchasing an additional 81,348 shares during the period. Bank of New York Mellon Corp lifted its position in 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 worth $887,000 after purchasing an additional 31,081 shares during the period. AQR Capital Management LLC bought a new position in Omeros in the second quarter worth $105,000. Finally, SPC Financial Inc. bought a new position in Omeros in the third quarter worth $77,000. 48.79% of the stock is owned by institutional investors.

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.