Corebridge Financial Inc. Decreases Holdings in Omeros Co. (NASDAQ:OMER)

Corebridge Financial Inc. reduced its stake in shares of Omeros Co. (NASDAQ:OMER) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 27,808 shares of the biopharmaceutical company’s stock after selling 2,100 shares during the period. Corebridge Financial Inc.’s holdings in Omeros were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OMER. Geode Capital Management LLC boosted its stake in Omeros by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,339,251 shares of the biopharmaceutical company’s stock worth $5,318,000 after buying an additional 6,839 shares during the period. State Street Corp increased its stake in Omeros by 0.3% in the third quarter. State Street Corp now owns 1,226,053 shares of the biopharmaceutical company’s stock worth $4,867,000 after purchasing an additional 3,839 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Omeros by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 485,035 shares of the biopharmaceutical company’s stock worth $1,926,000 after purchasing an additional 18,454 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Omeros during the fourth quarter valued at $1,120,000. Finally, Barclays PLC grew its holdings in shares of Omeros by 121.3% in the third quarter. Barclays PLC now owns 94,640 shares of the biopharmaceutical company’s stock worth $376,000 after purchasing an additional 51,873 shares during the last quarter. 48.79% of the stock is currently owned by hedge funds and other institutional investors.

Omeros Price Performance

NASDAQ OMER opened at $6.73 on Friday. The company has a fifty day moving average of $8.21 and a 200 day moving average of $7.75. The company has a market capitalization of $390.77 million, a PE ratio of -2.91 and a beta of 2.35. Omeros Co. has a 1 year low of $2.97 and a 1 year high of $13.60.

Omeros (NASDAQ:OMER) last issued its earnings results on Monday, March 31st. The biopharmaceutical company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.08. During the same period in the previous year, the company posted ($0.15) earnings per share. Research analysts expect that Omeros Co. will post -3.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OMER. D. Boral Capital reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Omeros in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of Omeros in a report on Tuesday, April 1st. Finally, StockNews.com downgraded Omeros from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Omeros has an average rating of “Moderate Buy” and a consensus target price of $22.50.

About Omeros

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.