Bank of America Corp DE Raises Stock Holdings in Omeros Corporation $OMER

Key Points

• Bank of America increased its Omeros position by 57.8% in the first quarter, owning 204,805 shares valued at approximately $2.16 million. Other major institutional investors, including UBS, Vanguard, JPMorgan, and State Street, also raised their stakes.
• Omeros reported quarterly EPS of $0.02, exceeding the $0.27 loss analysts expected, while revenue of $28.53 million surpassed the $12.69 million consensus estimate. Analysts’ consensus rating is “Moderate Buy”, with a $38 target price.
• OMER shares opened at $18.75, near their 52-week high of $19.65, but insiders have recently sold 95,906 shares worth about $1.78 million, including sizable sales by a vice president and a director.

Bank of America Corp DE boosted its position in Omeros Corporation (NASDAQ:OMER - Free Report) by 57.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 204,805 shares of the biopharmaceutical company's stock after purchasing an additional 74,997 shares during the quarter. Bank of America Corp DE owned about 0.28% of Omeros worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OMER. UBS Group AG boosted its holdings in shares of Omeros by 213.5% during the fourth quarter. UBS Group AG now owns 2,222,982 shares of the biopharmaceutical company's stock worth $38,180,000 after purchasing an additional 1,513,893 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Omeros by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 4,013,315 shares of the biopharmaceutical company's stock worth $68,929,000 after buying an additional 666,357 shares during the period. JPMorgan Chase & Co. raised its position in shares of Omeros by 1,201.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 416,153 shares of the biopharmaceutical company's stock worth $1,706,000 after buying an additional 384,168 shares during the period. State Street Corp grew its position in Omeros by 26.9% during the fourth quarter. State Street Corp now owns 1,573,526 shares of the biopharmaceutical company's stock valued at $27,025,000 after acquiring an additional 333,798 shares during the period. Finally, Two Sigma Investments LP increased its stake in Omeros by 39.3% during the third quarter. Two Sigma Investments LP now owns 933,314 shares of the biopharmaceutical company's stock worth $3,827,000 after acquiring an additional 263,095 shares during the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on OMER shares. Zacks Research downgraded shares of 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. HC Wainwright reissued a "buy" rating on shares of Omeros in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Omeros from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Omeros has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Omeros Stock Down 0.2%

Shares of NASDAQ OMER opened at $18.75 on Wednesday. Omeros Corporation has a fifty-two week low of $3.94 and a fifty-two week high of $19.65. The business has a 50 day moving average price of $12.98 and a two-hundred day moving average price of $12.14. The firm has a market cap of $1.36 billion, a PE ratio of 14.65 and a beta of 2.60.

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, beating analysts' consensus estimates of ($0.27) by $0.29. The business had revenue of $28.53 million during the quarter, compared to analyst estimates of $12.69 million. On average, analysts anticipate that Omeros Corporation will post -0.37 earnings per share for the current year.

Insider Activity at Omeros

In related news, VP Peter B. Cancelmo sold 25,000 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $18.54, for a total transaction of $463,500.00. Following the transaction, the vice president directly owned 200 shares in the company, valued at $3,708. This trade represents a 99.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas J. Cable sold 15,000 shares of the business's stock in a transaction dated Thursday, August 20th. The shares were 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 approximately $646,986.15. This represents a 29.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 95,906 shares of company stock worth $1,780,205. 10.50% of the stock is currently owned by company insiders.

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.

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