Connor Clark & Lunn Investment Management Ltd. Sells 102,771 Shares of Omeros Corporation $OMER

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Omeros Corporation by 90.7%, bringing its holdings down to 10,555 shares worth $87,000.
• Omeros Corporation reported an earnings per share (EPS) of ($0.53) for the last quarter, beating estimates by $0.02, along with revenue of $28.60 million which significantly surpassed the consensus estimate.
• Research analysts have given Omeros an average rating of "Moderate Buy" with a target price of $18.00, despite mixed ratings from various firms.

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Omeros Corporation (NASDAQ:OMER - Free Report) by 90.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,555 shares of the biopharmaceutical company's stock after selling 102,771 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Omeros were worth $87,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Omeros during the 4th quarter worth approximately $124,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Omeros during the 1st quarter worth approximately $579,000. Price T Rowe Associates Inc. MD lifted its holdings in Omeros by 12.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,582 shares of the biopharmaceutical company's stock worth $392,000 after purchasing an additional 4,401 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Omeros by 14,486.3% during the 1st quarter. GAMMA Investing LLC now owns 7,439 shares of the biopharmaceutical company's stock worth $61,000 after purchasing an additional 7,388 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Omeros by 9.9% during the 4th quarter. Cerity Partners LLC now owns 28,989 shares of the biopharmaceutical company's stock worth $286,000 after purchasing an additional 2,600 shares during the last quarter. 48.79% of the stock is owned by institutional investors and hedge funds.

Omeros Price Performance

Omeros stock traded up $0.03 during mid-day trading on Tuesday, reaching $4.38. 892,795 shares of the company were exchanged, compared to its average volume of 1,262,183. The company has a fifty day simple moving average of $3.71 and a 200-day simple moving average of $5.55. Omeros Corporation has a 12 month low of $2.95 and a 12 month high of $13.60. The firm has a market cap of $298.10 million, a PE ratio of -2.08 and a beta of 2.26.

Omeros (NASDAQ:OMER - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.02. The business had revenue of $28.60 million during the quarter, compared to the consensus estimate of $0.31 million. Sell-side analysts anticipate that Omeros Corporation will post -3.09 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright reissued a "buy" rating and set a $9.00 price target on shares of Omeros in a report on Friday, June 27th. Wall Street Zen lowered Omeros from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. D. Boral Capital restated a "buy" rating and set a $36.00 price objective on shares of Omeros in a research note on Friday, August 15th. Finally, Needham & Company LLC restated a "hold" rating on shares of Omeros in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.00.

Omeros Profile

Omeros Corporation, a clinical-stage biopharmaceutical company, discovers, develops, and commercializes small-molecule and protein therapeutics, and orphan indications targeting immunologic diseases, including complement-mediated diseases, cancers, and addictive and compulsive disorders. The company's products under development include Narsoplimab (OMS721/MASP-2) that has completed pivotal trial for hematopoietic stem-cell transplant-associated thrombotic microangiopathy (TA-TMA); that is in Phase III clinical trial for the treatment of immunoglobulin A nephropathy (IgAN); and Phase II clinical trial to treat COVID-19.