Omega Therapeutics (NASDAQ:OMGA) Price Target Lowered to $7.00 at Chardan Capital

Omega Therapeutics (NASDAQ:OMGA - Get Free Report) had its price objective reduced by research analysts at Chardan Capital from $12.00 to $7.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Chardan Capital's price objective would indicate a potential upside of 118.75% from the company's previous close.

Separately, Wedbush reiterated an "outperform" rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Thursday, January 4th.

Omega Therapeutics Stock Down 12.3 %

Shares of OMGA traded down $0.45 during trading hours on Monday, reaching $3.20. The stock had a trading volume of 506,916 shares, compared to its average volume of 2,194,810. Omega Therapeutics has a 12 month low of $1.30 and a 12 month high of $10.09. The firm has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $2.92. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $176.45 million, a price-to-earnings ratio of -1.77 and a beta of 1.83.

Hedge Funds Weigh In On Omega Therapeutics

Several large investors have recently bought and sold shares of OMGA. Vanguard Group Inc. raised its stake in shares of Omega Therapeutics by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 1,509,188 shares of the company's stock worth $4,543,000 after purchasing an additional 23,553 shares during the period. Blue Owl Capital Holdings LP purchased a new stake in Omega Therapeutics in the 4th quarter worth about $3,178,000. Barclays PLC increased its holdings in Omega Therapeutics by 161.5% in the 4th quarter. Barclays PLC now owns 46,973 shares of the company's stock worth $142,000 after acquiring an additional 29,013 shares during the last quarter. Etfidea LLC purchased a new stake in Omega Therapeutics in the 4th quarter worth about $39,000. Finally, Murphy Pohlad Asset Management LLC purchased a new position in Omega Therapeutics during the 4th quarter valued at about $50,000. 97.47% of the stock is currently owned by institutional investors.

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.