Omeros (NASDAQ:OMER) Stock Price Down 6.2% Following Insider Selling

Shares of Omeros Corporation (NASDAQ:OMER) were down 6.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $10.94 and last traded at $10.9220. Approximately 2,060,822 shares changed hands during trading, an increase of 42% from the average daily volume of 1,447,658 shares. The stock had previously closed at $11.65.

Specifically, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $11.61, for a total value of $87,075.00. Following the transaction, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This trade represents a 17.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts have commented on OMER shares. Zacks Research raised shares of Omeros from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a report on Sunday, April 26th. D. Boral Capital reaffirmed a “buy” rating and set a $36.00 price target on shares of Omeros in a report on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Omeros in a report on Thursday, May 14th. Finally, Weiss Ratings raised shares of Omeros from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Omeros currently has a consensus rating of “Buy” and a consensus price target of $40.33.

Omeros Stock Performance

The company has a market capitalization of $782.07 million, a P/E ratio of 15.43 and a beta of 2.66. The firm’s fifty day moving average is $12.30 and its 200-day moving average is $11.71.

Omeros (NASDAQ:OMER) last announced its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.16. The company had revenue of $9.89 million for the quarter, compared to the consensus estimate of $4.19 million. As a group, analysts expect that Omeros Corporation will post -0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Omeros

Hedge funds have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in Omeros during the 4th quarter worth approximately $25,000. B. Riley Wealth Advisors Inc. acquired a new stake in Omeros during the 2nd quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new stake in Omeros during the 4th quarter worth approximately $33,000. Assetmark Inc. acquired a new stake in Omeros during the 1st quarter worth approximately $38,000. Finally, Tower Research Capital LLC TRC boosted its position in Omeros by 829.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,414 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 11,971 shares during the period. 48.79% of the stock is currently owned by institutional investors and hedge funds.

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.