Omega Therapeutics (NASDAQ:OMGA) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a research report report published on Monday morning, RTT News reports. Wedbush currently has a $12.00 target price on the stock.

Several other research firms have also issued reports on OMGA. Piper Sandler reissued an overweight rating and issued a $9.00 price target (down previously from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd. Chardan Capital reduced their price target on Omega Therapeutics from $12.00 to $7.00 and set a buy rating for the company in a research report on Monday, April 1st. Finally, HC Wainwright restated a buy rating and issued a $12.00 target price on shares of Omega Therapeutics in a research note on Tuesday, April 30th.

Omega Therapeutics Trading Down 11.6 %

Shares of NASDAQ:OMGA opened at $2.28 on Monday. Omega Therapeutics has a 1 year low of $1.30 and a 1 year high of $10.09. The business has a fifty day moving average price of $3.19 and a two-hundred day moving average price of $2.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.35 and a current ratio of 3.35.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.09. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million. Omega Therapeutics had a negative net margin of 3,147.92% and a negative return on equity of 110.41%. Sell-side analysts anticipate that Omega Therapeutics will post -1.29 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OMGA. 683 Capital Management LLC grew its stake in Omega Therapeutics by 7.0% in the 3rd quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock worth $1,093,000 after buying an additional 33,242 shares in the last quarter. Murphy Pohlad Asset Management LLC purchased a new position in Omega Therapeutics in the fourth quarter worth $50,000. Finally, Etfidea LLC bought a new position in Omega Therapeutics in the fourth quarter valued at $39,000. Institutional investors own 97.47% of the company’s stock.

About Omega Therapeutics

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.