Omeros (NASDAQ:OMER) Shares Gap Down - Here's Why

Omeros Co. (NASDAQ:OMER - Get Free Report)'s share price gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cantor Fitzgerald reiterated a "neutral" rating on shares of Omeros in a research report on Thursday, November 14th. StockNews.com upgraded shares of Omeros from a "sell" rating to a "hold" rating in a report on Wednesday, November 20th. D. Boral Capital began coverage on shares of Omeros in a report on Monday. They set a "buy" rating and a $36.00 price objective on the stock. Rodman & Renshaw initiated coverage on shares of Omeros in a research report on Thursday, November 14th. They set a "buy" rating and a $9.00 target price on the stock. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Omeros in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Omeros Stock Performance

The firm has a market capitalization of $579.50 million, a PE ratio of -4.33 and a beta of 1.97. The firm's 50-day moving average is $7.21 and its 200 day moving average is $5.24.

Institutional Investors Weigh In On Omeros

Institutional investors and hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC increased its position in Omeros by 19.2% during the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company's stock worth $74,000 after buying an additional 3,000 shares in the last quarter. State Street Corp increased its position in Omeros by 0.3% during the 3rd quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company's stock worth $4,867,000 after purchasing an additional 3,839 shares in the last quarter. HighTower Advisors LLC raised its stake in Omeros by 7.2% in the 3rd quarter. HighTower Advisors LLC now owns 59,339 shares of the biopharmaceutical company's stock valued at $235,000 after purchasing an additional 4,000 shares during the last quarter. Rhumbline Advisers lifted its holdings in Omeros by 6.1% in the 2nd quarter. Rhumbline Advisers now owns 111,778 shares of the biopharmaceutical company's stock valued at $454,000 after purchasing an additional 6,435 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Omeros by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company's stock worth $5,318,000 after purchasing an additional 6,839 shares during 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.