Piper Sandler Reiterates Overweight Rating for Omega Therapeutics (NASDAQ:OMGA)

Omega Therapeutics (NASDAQ:OMGAGet Free Report)‘s stock had its “overweight” rating reissued by investment analysts at Piper Sandler in a research note issued on Wednesday, Benzinga reports. They presently have a $9.00 price target on the stock, down from their previous price target of $10.00. Piper Sandler’s price target suggests a potential upside of 210.34% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Omega Therapeutics in a research note on Thursday, January 4th. Chardan Capital decreased their price target on Omega Therapeutics from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Monday.

View Our Latest Analysis on Omega Therapeutics

Omega Therapeutics Price Performance

Omega Therapeutics stock traded down $0.11 during midday trading on Wednesday, reaching $2.90. 122,698 shares of the stock traded hands, compared to its average volume of 2,139,086. The stock’s fifty day moving average is $3.77 and its 200-day moving average is $2.92. Omega Therapeutics has a 12 month low of $1.30 and a 12 month high of $10.09. The stock has a market cap of $159.94 million, a P/E ratio of -1.60 and a beta of 1.83. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Omega Therapeutics

Several large investors have recently bought and sold shares of the company. American Century Companies Inc. purchased a new stake in shares of Omega Therapeutics in the third quarter valued at approximately $26,000. Etfidea LLC purchased a new position in shares of Omega Therapeutics during the fourth quarter worth about $39,000. LPL Financial LLC purchased a new position in shares of Omega Therapeutics during the second quarter worth about $42,000. California State Teachers Retirement System acquired a new stake in shares of Omega Therapeutics during the second quarter worth about $45,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Omega Therapeutics by 72.0% during the third quarter. Tower Research Capital LLC TRC now owns 8,963 shares of the company’s stock worth $49,000 after buying an additional 3,753 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Omega Therapeutics Company Profile

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Omega Therapeutics, Inc operates as a clinical-stage biotechnology company. The company's OMEGA platform enables control of fundamental epigenetic processes to correct the root cause of disease by restoring aberrant gene expression to a range without altering native nucleic acid sequences. It also develops OTX-2002 for hepatocellular carcinoma; OTX-2101 for non-small cell lung cancer; omega epigenomic controllers (OEC) for inflammatory lung diseases, such as neutrophilic asthma, acute respiratory distress syndrome, dermatological, oncology, and rheumatological indications; OEC candidates for idiopathic pulmonary fibrosis; liver regeneration medicines; and OEC candidates for patients with diabetes and other conditions to treat corneal epithelial injury.

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