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

Omeros Co. (NASDAQ:OMER) shares gapped down before the market opened on Tuesday . The stock had previously closed at $10.11, but opened at $9.90. Omeros shares last traded at $10.21, with a volume of 91,339 shares changing hands.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Omeros in a research report on Thursday, December 19th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Omeros in a research report on Thursday, November 14th. RODMAN&RENSHAW upgraded Omeros to a “strong-buy” rating in a research report on Thursday, November 14th. D. Boral Capital started coverage on Omeros in a report on Monday. They issued a “buy” rating and a $36.00 price target for the company. Finally, Rodman & Renshaw assumed coverage on shares of Omeros in a research note on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective for the company. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.50.

Omeros Stock Up 3.6 %

The stock has a market cap of $606.74 million, a price-to-earnings ratio of -4.53 and a beta of 1.97. The stock has a fifty day moving average of $7.09 and a two-hundred day moving average of $5.20.

Institutional Trading of Omeros

A number of institutional investors and hedge funds have recently bought and sold shares of OMER. Wellington Management Group LLP purchased a new stake in Omeros during the third quarter worth approximately $305,000. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 51,873 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Omeros by 16.6% during the 2nd 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 acquired a new stake in Omeros in the 2nd quarter valued at $105,000. Finally, SG Americas Securities LLC purchased a new position in Omeros in the third quarter valued at about $80,000. Institutional investors and hedge funds 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.