Stock Traders Buy High Volume of Put Options on Omeros (NASDAQ:OMER)

Omeros Corporation (NASDAQ:OMER) was the target of some unusual options trading on Tuesday. Stock traders acquired 11,366 put options on the stock. This is an increase of 247% compared to the average volume of 3,275 put options.

Omeros Stock Up 5.5%

Shares of NASDAQ OMER traded up $0.55 during trading on Tuesday, reaching $10.56. 476,041 shares of the stock were exchanged, compared to its average volume of 1,613,763. The company has a market capitalization of $764.62 million, a price-to-earnings ratio of 15.07 and a beta of 2.55. The business’s 50-day moving average price is $11.04 and its 200 day moving average price is $11.87. Omeros has a twelve month low of $3.34 and a twelve month high of $17.65.

Omeros (NASDAQ:OMER) last released 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 firm had revenue of $9.89 million for the quarter, compared to analyst estimates of $4.19 million. As a group, sell-side analysts expect that Omeros will post -0.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director owned 35,067 shares in the company, valued at approximately $407,127.87. The trade was 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. Insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OMER. Acadian Asset Management LLC acquired a new stake in Omeros during the 1st quarter valued at approximately $357,000. XTX Topco Ltd purchased a new position in shares of Omeros during the 2nd quarter valued at approximately $191,000. Invesco Ltd. grew its position in shares of Omeros by 34.1% during the second quarter. Invesco Ltd. now owns 116,688 shares of the biopharmaceutical company’s stock worth $350,000 after buying an additional 29,644 shares in the last quarter. Marshall Wace LLP grew its position in shares of Omeros by 15.1% during the second quarter. Marshall Wace LLP now owns 741,376 shares of the biopharmaceutical company’s stock worth $2,224,000 after buying an additional 97,224 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Omeros in the second quarter worth $40,000. Hedge funds and other institutional investors own 48.79% of the company’s stock.

Analyst Upgrades and Downgrades

OMER has been the topic of a number of recent research reports. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Wall Street Zen downgraded shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. D. Boral Capital restated a “buy” rating and set a $36.00 target price on shares of Omeros in a report on Tuesday, April 21st. Finally, HC Wainwright decreased their price target on shares of Omeros from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.00.

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.