Omeros (NASDAQ:OMER) Shares Gap Down – Should You Sell?

Omeros Co. (NASDAQ:OMER)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $9.15, but opened at $8.95. Omeros shares last traded at $8.93, with a volume of 53,837 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on OMER shares. RODMAN&RENSHAW upgraded shares of Omeros to a “strong-buy” rating in a report on Thursday, November 14th. D. Boral Capital restated a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research report on Thursday, January 16th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Omeros in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Omeros in a research note on Friday, January 17th. Finally, Rodman & Renshaw initiated coverage on Omeros in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price target for the company. Three equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Omeros Price Performance

The stock’s 50 day moving average is $9.69 and its 200-day moving average is $6.15. The company has a market capitalization of $485.04 million, a P/E ratio of -3.62 and a beta of 2.01.

Hedge Funds Weigh In On Omeros

Several institutional investors and hedge funds have recently added to or reduced their stakes in OMER. Geode Capital Management LLC increased its stake in shares of Omeros by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock worth $5,318,000 after acquiring an additional 6,839 shares in the last quarter. State Street Corp lifted its holdings in shares of Omeros by 0.3% during the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock valued at $4,867,000 after purchasing an additional 3,839 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Omeros by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock worth $1,926,000 after purchasing an additional 18,454 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company’s stock worth $454,000 after buying an additional 6,435 shares during the last quarter. Finally, Barclays PLC increased its position in Omeros by 121.3% during the 3rd quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock valued at $376,000 after buying an additional 51,873 shares in the last quarter. Hedge funds and other institutional investors own 48.79% of the company’s stock.

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.