Bank of New York Mellon Corp Makes New Investment in Omeros Corporation $OMER

Key Points

• Bank of New York Mellon purchased 195,990 Omeros shares worth approximately $1.86 million, giving it a 0.27% stake. Institutional investors and hedge funds collectively own 48.79% of Omeros.
• Omeros reported quarterly earnings of $0.02 per share, beating estimates of a $0.27 loss, while revenue of $28.53 million exceeded the $12.69 million consensus forecast.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $38, but company insiders sold 95,906 shares worth approximately $1.78 million over the past three months.

Bank of New York Mellon Corp purchased a new position in Omeros Corporation (NASDAQ:OMER - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 195,990 shares of the biopharmaceutical company's stock, valued at approximately $1,864,000. Bank of New York Mellon Corp owned approximately 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. State of Wyoming purchased a new stake in shares of Omeros in the fourth quarter valued at approximately $25,000. B. Riley Wealth Advisors Inc. purchased a new position in Omeros during the second quarter worth approximately $32,000. Caitong International Asset Management Co. Ltd acquired a new position in Omeros during the fourth quarter worth $33,000. Assetmark Inc. acquired a new position in Omeros during the first quarter worth $38,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of 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 acquiring an additional 11,971 shares during the period. 48.79% of the stock is currently owned by institutional investors and hedge funds.

Omeros Price Performance

Shares of NASDAQ:OMER opened at $19.12 on Wednesday. The firm has a market capitalization of $1.38 billion, a PE ratio of 14.94 and a beta of 2.60. The firm's 50-day moving average is $13.89 and its two-hundred day moving average is $12.39. Omeros Corporation has a 1 year low of $3.94 and a 1 year high of $19.65.

Omeros (NASDAQ:OMER - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.29. The business had revenue of $28.53 million during the quarter, compared to analysts' expectations of $12.69 million. Analysts expect that Omeros Corporation will post -0.37 EPS for the current fiscal year.

Insider Activity

In other news, CAO David J. Borges sold 10,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $18.95, for a total value of $189,500.00. Following the sale, the chief accounting officer directly owned 5,906 shares in the company, valued at approximately $111,918.70. This trade represents a 62.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas J. Cable sold 15,000 shares of Omeros stock in a transaction on 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 approximately $646,986.15. This trade represents a 29.96% 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 95,906 shares of company stock valued at $1,780,205 over the last three months. 10.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Zacks Research cut shares of Omeros from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Omeros from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. HC Wainwright reiterated a "buy" rating on shares of Omeros in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Omeros from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.00.

About Omeros

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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