Bank of New York Mellon Corp Acquires New Stake in Omeros Corporation $OMER

Bank of New York Mellon Corp acquired a new position in shares of Omeros Corporation (NASDAQ:OMER - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 195,990 shares of the biopharmaceutical company's stock, valued at approximately $1,864,000. Bank of New York Mellon Corp owned 0.27% of Omeros at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Pictet Asset Management Holding SA purchased a new position in Omeros during the second quarter worth $171,000. Avantax Planning Partners Inc. boosted its holdings in shares of Omeros by 47.4% during the second quarter. Avantax Planning Partners Inc. now owns 31,100 shares of the biopharmaceutical company's stock worth $296,000 after purchasing an additional 10,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Omeros by 4.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 92,403 shares of the biopharmaceutical company's stock valued at $879,000 after purchasing an additional 3,835 shares during the last quarter. Bank of America Corp DE lifted its position in Omeros by 57.8% during the first quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company's stock worth $2,163,000 after buying an additional 74,997 shares during the period. Finally, Quantinno Capital Management LP lifted its position in Omeros by 145.4% during the first quarter. Quantinno Capital Management LP now owns 61,541 shares of the biopharmaceutical company's stock worth $650,000 after buying an additional 36,467 shares during the period. Hedge funds and other institutional investors own 48.79% of the company's stock.

Omeros Stock Performance

Shares of OMER stock traded down $0.05 during mid-day trading on Tuesday, hitting $19.38. 392,591 shares of the stock traded hands, compared to its average volume of 1,687,282. The company's 50-day simple moving average is $16.40 and its 200-day simple moving average is $13.11. Omeros Corporation has a twelve month low of $4.05 and a twelve month high of $21.24. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 15.14 and a beta of 2.60.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CAO David J. Borges sold 10,000 shares of Omeros stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $20.95, for a total value of $209,500.00. Following the transaction, the chief accounting officer owned 5,000 shares of the company's stock, valued at approximately $104,750. This trade represents a 66.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 15,000 shares of the firm's 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 completion of the transaction, the director owned 35,067 shares of the company's stock, valued at approximately $646,986.15. The trade was a 29.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,906 shares of company stock worth $1,989,705 over the last quarter. 10.50% of the stock is currently owned by insiders.

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.