Omeros Corporation $OMER Position Lifted by State Street Corp

State Street Corp grew its stake in Omeros Corporation (NASDAQ:OMER - Free Report) by 20.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,319,906 shares of the biopharmaceutical company's stock after purchasing an additional 400,331 shares during the period. State Street Corp owned approximately 3.20% of Omeros worth $22,062,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OMER. BlackRock Inc. bought a new stake in Omeros in the second quarter valued at about $57,484,000. Corient Private Wealth LLC increased its holdings in shares of Omeros by 13.0% in the 4th quarter. Corient Private Wealth LLC now owns 688,025 shares of the biopharmaceutical company's stock worth $11,817,000 after acquiring an additional 79,263 shares during the period. Corient Private Wealth LP acquired a new position in shares of Omeros during the second quarter worth approximately $6,274,000. Bank of America Corp DE grew its stake in shares of Omeros by 57.8% in the first quarter. Bank of America Corp DE now owns 204,805 shares of the biopharmaceutical company's stock worth $2,163,000 after purchasing an additional 74,997 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Omeros by 9.2% during the 2nd quarter. Wellington Management Group LLP now owns 204,541 shares of the biopharmaceutical company's stock valued at $1,945,000 after buying an additional 17,241 shares during the period. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Omeros

In related news, CAO David Borges sold 10,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $18.95, for a total transaction of $189,500.00. Following the completion of the transaction, the chief accounting officer owned 5,906 shares in the company, valued at approximately $111,918.70. This represents a 62.87% decrease in their ownership of the stock. 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, VP Peter Cancelmo sold 25,000 shares of the stock in a transaction dated 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 owned 200 shares of the company's stock, valued at approximately $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 sold 105,906 shares of company stock valued at $1,989,705 over the last quarter. Insiders own 10.50% of the company's stock.

Omeros Price Performance

Shares of Omeros stock traded down $0.05 on Tuesday, hitting $19.38. 392,591 shares of the company's stock traded hands, compared to its average volume of 1,687,282. The firm's 50-day moving average price is $16.40 and its two-hundred day moving average price is $13.11. The stock has a market capitalization of $1.40 billion, a PE ratio of 15.14 and a beta of 2.60. Omeros Corporation has a one year low of $4.05 and a one year high of $21.24.

Omeros (NASDAQ:OMER - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $12.69 million. On average, analysts forecast that Omeros Corporation will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

About Omeros

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.