Insider Selling: Omeros (NASDAQ:OMER) CAO Sells 10,000 Shares of Stock

Omeros Corporation (NASDAQ:OMER) CAO David Borges sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $20.95, for a total transaction of $209,500.00. Following the sale, the chief accounting officer directly owned 5,000 shares in the company, valued at approximately $104,750. The trade was a 66.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omeros Price Performance

Shares of Omeros stock traded down $0.61 during trading on Thursday, hitting $20.13. The stock had a trading volume of 873,738 shares, compared to its average volume of 1,553,685. Omeros Corporation has a 12 month low of $4.05 and a 12 month high of $21.24. The firm’s fifty day simple moving average is $16.00 and its 200-day simple moving average is $12.99. The stock has a market cap of $1.46 billion, a PE ratio of 15.73 and a beta of 2.60.

Omeros (NASDAQ:OMER) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.29. The company 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 earnings per share for the current fiscal year.

Institutional Trading of Omeros

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. acquired a new position in shares of Omeros during the 1st quarter valued at about $38,000. International Assets Investment Management LLC boosted its holdings in Omeros by 16.0% in the 1st quarter. International Assets Investment Management LLC now owns 5,800 shares of the biopharmaceutical company’s stock valued at $61,000 after purchasing an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Omeros in the 4th quarter valued at approximately $159,000. Leonteq Securities AG acquired a new stake in shares of Omeros during the 1st quarter worth approximately $106,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Omeros during the 2nd quarter valued at approximately $138,000. 48.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OMER has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Omeros from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. HC Wainwright restated a “buy” rating on shares of Omeros in a research report on Monday, July 27th. Cantor Fitzgerald upgraded Omeros from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Tuesday. Zacks Research cut Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised Omeros from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Omeros has an average rating of “Moderate Buy” and an average price target of $34.00.

Omeros Company Profile

Omeros Corporation is a biopharmaceutical company focused on discovering, developing and commercializing therapies for diseases involving the complement system, immune system and inflammation. The company is headquartered in Seattle, Washington, and was founded in 1994 by Gregory A. Demopulos, M.D., who serves as its chairman and chief executive officer.

Omeros’ marketed product, OMIDRIA, is an ophthalmic solution containing phenylephrine and ketorolac. It is used during cataract surgery and other lens replacement procedures to help maintain pupil size and reduce postoperative pain and inflammation.