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

Omeros Co. (NASDAQ:OMER - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $11.68, but opened at $11.28. Omeros shares last traded at $10.79, with a volume of 214,863 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OMER shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Omeros in a research note on Thursday, December 19th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Omeros in a research report on Thursday, November 14th. RODMAN&RENSHAW raised Omeros to a "strong-buy" rating in a report on Thursday, November 14th. D. Boral Capital assumed coverage on Omeros in a research note on Monday, December 23rd. They issued a "buy" rating and a $36.00 price objective on the stock. Finally, Rodman & Renshaw started coverage on Omeros in a research report on Thursday, November 14th. They set a "buy" rating and a $9.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.50.

Omeros Stock Down 16.6 %

The firm has a market cap of $564.43 million, a price-to-earnings ratio of -4.22 and a beta of 1.97. The stock's 50-day moving average price is $7.84 and its 200 day moving average price is $5.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its stake in shares of Omeros by 130.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,388 shares of the biopharmaceutical company's stock valued at $49,000 after buying an additional 7,016 shares in the last quarter. MML Investors Services LLC increased its stake in Omeros by 19.2% in the third quarter. MML Investors Services LLC now owns 18,600 shares of the biopharmaceutical company's stock valued at $74,000 after acquiring an additional 3,000 shares during the period. SPC Financial Inc. acquired a new position in Omeros in the third quarter worth about $77,000. SG Americas Securities LLC bought a new position in Omeros during the third quarter worth about $80,000. Finally, AQR Capital Management LLC acquired a new stake in Omeros during the second quarter valued at approximately $105,000. 48.79% of the stock is owned by institutional investors.

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.