Legal & General Group Plc Acquires New Stake in Omeros Corporation $OMER

Legal & General Group Plc acquired a new position in shares of Omeros Corporation (NASDAQ:OMER) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 44,686 shares of the biopharmaceutical company’s stock, valued at approximately $425,000. Legal & General Group Plc owned 0.06% of Omeros at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. acquired a new stake in shares of Omeros in the first quarter worth $38,000. International Assets Investment Management LLC lifted its holdings in shares of Omeros by 16.0% during the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after acquiring an additional 800 shares in the last quarter. Leonteq Securities AG purchased a new stake in Omeros during the 1st quarter worth $106,000. Caitong International Asset Management Co. Ltd acquired a new stake in Omeros in the 4th quarter valued at $159,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Omeros in the 2nd quarter valued at $171,000. Institutional investors and hedge funds own 48.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings lowered Omeros from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, September 22nd. HC Wainwright reissued a “buy” rating on shares of Omeros in a report on Monday, July 27th. Zacks Research cut shares of Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald raised shares of Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Activity

In other news, Director Arnold Hanish sold 10,000 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the sale, the director owned 5,000 shares in the company, valued at $94,750. This represents a 66.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO David Borges sold 10,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the completion of the transaction, the chief accounting officer owned 5,906 shares in the company, valued at $111,918.70. This represents a 62.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 105,906 shares of company stock worth $1,989,705. Company insiders own 10.50% of the company’s stock.

Omeros Trading Down 0.3%

Shares of NASDAQ OMER traded down $0.05 during mid-day trading on Tuesday, reaching $19.38. The company had a trading volume of 392,591 shares, compared to its average volume of 1,687,282. Omeros Corporation has a 1-year low of $4.05 and a 1-year high of $21.24. The stock has a market cap of $1.40 billion, a PE ratio of 15.14 and a beta of 2.60. The company has a 50-day moving average price of $16.40 and a two-hundred day moving average price of $13.11.

Omeros (NASDAQ:OMER) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.29. The company had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, research analysts expect that Omeros Corporation will post -0.37 EPS for the current year.

Omeros Profile

Omeros Corporation (NASDAQ: OMER) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for disorders involving the complement, immune and coagulation systems. The company has also developed a pipeline of investigational therapies aimed at treating serious diseases involving complement activation and immune-system dysfunction. The company is headquartered in Seattle, Washington, and was founded in 1994.

Its leading investigational programs have included narsoplimab, which targets the lectin pathway of the complement system, and OMS906, an antibody designed to inhibit MASP-3 and regulate the alternative pathway.