Polar Asset Management Partners Inc. Sells 68,800 Shares of Omeros Corporation $OMER

Polar Asset Management Partners Inc. reduced its position in shares of Omeros Corporation (NASDAQ:OMER) by 25.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 200,000 shares of the biopharmaceutical company’s stock after selling 68,800 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.28% of Omeros worth $2,112,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OMER. State of Wyoming bought a new stake in shares of Omeros during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Omeros in the 4th quarter worth $33,000. Assetmark Inc. acquired a new stake in Omeros in the 1st quarter valued at $38,000. Arax Advisory Partners increased its stake in Omeros by 56.4% during the 4th quarter. Arax Advisory Partners now owns 5,255 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 1,894 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Omeros by 16.0% during 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 in the last quarter. Institutional investors and hedge funds own 48.79% of the company’s stock.

Omeros Stock Up 15.8%

OMER stock opened at $11.34 on Tuesday. The firm has a market cap of $820.73 million, a PE ratio of 16.20 and a beta of 2.55. The business has a 50 day moving average of $10.26 and a 200-day moving average of $11.46. Omeros Corporation has a 12-month low of $3.43 and a 12-month high of $17.65.

Omeros (NASDAQ:OMER) last issued its quarterly earnings results on Wednesday, May 13th. The biopharmaceutical company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.16. The business had revenue of $9.89 million for the quarter, compared to analysts’ expectations of $4.19 million. On average, research analysts expect that Omeros Corporation will post -0.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OMER has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Omeros from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Weiss Ratings lowered shares of Omeros from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price target on shares of Omeros in a research report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating on shares of Omeros in a research note on Monday. Finally, Zacks Research downgraded shares of Omeros from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Insider Activity

In other news, Director Thomas J. Cable sold 7,500 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $11.61, for a total transaction of $87,075.00. Following the completion of the sale, the director directly owned 35,067 shares of the company’s stock, valued at $407,127.87. This trade represents a 17.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.50% of the stock is currently owned by corporate insiders.

Omeros Company Profile

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.