Bank of America Corp DE Acquires 194,140 Shares of Omeros Corporation $OMER

Key Points

• Bank of America acquired 194,140 Omeros shares during the second quarter, valued at approximately $1.85 million and representing about 0.27% of the company. Institutional investors collectively own 48.79% of Omeros.
• Omeros reported quarterly revenue of $28.53 million and earnings of $0.02 per share, beating analyst expectations of $12.69 million in revenue and a $0.27-per-share loss.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $34 price target, although insiders sold 105,906 shares worth nearly $2 million over the past three months.

Bank of America Corp DE acquired a new stake in shares of Omeros Corporation (NASDAQ:OMER - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 194,140 shares of the biopharmaceutical company's stock, valued at approximately $1,846,000. Bank of America Corp DE owned about 0.27% of Omeros at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OMER. Jupiter Topco LLC bought a new position in shares of Omeros during the 2nd quarter valued at $290,000. Ancora Advisors LLC acquired a new stake in shares of Omeros in the second quarter worth about $1,605,000. Legal & General Group Plc acquired a new stake in shares of Omeros in the second quarter worth about $425,000. The Manufacturers Life Insurance Company bought a new stake in shares of Omeros during the 2nd quarter worth about $180,000. Finally, Compass Financial Management LLC acquired a new position in shares of Omeros during the 2nd quarter valued at about $312,000. Hedge funds and other institutional investors own 48.79% of the company's stock.

Omeros Trading Down 1.1%

OMER opened at $19.04 on Thursday. The business has a 50 day moving average of $16.78 and a 200-day moving average of $13.21. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 14.88 and a beta of 2.60. Omeros Corporation has a 1-year low of $4.05 and a 1-year high of $21.24.

Omeros (NASDAQ:OMER - Get Free Report) last announced its earnings results on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.29. The company had revenue of $28.53 million for the quarter, compared to the consensus estimate of $12.69 million. Equities analysts predict that Omeros Corporation will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on OMER shares. Zacks Research downgraded Omeros from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Wall Street Zen upgraded Omeros from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Cantor Fitzgerald raised shares of Omeros from a "neutral" rating to an "overweight" rating and set a $22.00 price target on the stock in a research report on Tuesday, September 22nd. HC Wainwright restated a "buy" rating on shares of Omeros in a research note on Monday, July 27th. Finally, Weiss Ratings lowered shares of Omeros from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Omeros presently has an average rating of "Moderate Buy" and a consensus price target of $34.00.

Insider Activity at Omeros

In related news, Director Thomas Cable sold 15,000 shares of Omeros stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.45, for a total transaction of $276,750.00. Following the sale, the director directly owned 35,067 shares of the company's stock, valued at $646,986.15. This trade represents a 29.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Peter Cancelmo sold 25,000 shares of the business's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $18.54, for a total value of $463,500.00. Following the transaction, the vice president owned 200 shares in the company, valued at $3,708. This represents a 99.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 105,906 shares of company stock worth $1,989,705 in the last three months. Corporate insiders own 10.50% of the company's stock.

Omeros Company 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.

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