Omega Therapeutics' (OMGA) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Omega Therapeutics (NASDAQ:OMGA - Free Report) in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has a $9.00 price objective on the stock, down from their previous price objective of $10.00.

Other equities analysts have also issued reports about the stock. Chardan Capital cut their price objective on shares of Omega Therapeutics from $12.00 to $7.00 and set a buy rating on the stock in a report on Monday. Wedbush restated an outperform rating and issued a $12.00 target price on shares of Omega Therapeutics in a research note on Thursday, January 4th.

Omega Therapeutics Stock Down 4.2 %

OMGA stock traded down $0.12 during trading on Wednesday, hitting $2.89. 260,438 shares of the company's stock traded hands, compared to its average volume of 2,141,385. The firm has a market capitalization of $159.11 million, a P/E ratio of -1.59 and a beta of 1.83. The business has a fifty day simple moving average of $3.76 and a two-hundred day simple moving average of $2.92. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.21. Omega Therapeutics has a 1 year low of $1.30 and a 1 year high of $10.09.

Institutional Investors Weigh In On Omega Therapeutics

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Omega Therapeutics by 72.0% in the third quarter. Tower Research Capital LLC TRC now owns 8,963 shares of the company's stock valued at $49,000 after purchasing an additional 3,753 shares during the last quarter. State Street Corp increased its stake in Omega Therapeutics by 8.2% in the first quarter. State Street Corp now owns 55,730 shares of the company's stock valued at $336,000 after purchasing an additional 4,200 shares during the last quarter. California State Teachers Retirement System increased its stake in Omega Therapeutics by 137.2% in the first quarter. California State Teachers Retirement System now owns 9,475 shares of the company's stock valued at $59,000 after purchasing an additional 5,480 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Omega Therapeutics by 167.6% in the first quarter. Cubist Systematic Strategies LLC now owns 10,007 shares of the company's stock valued at $60,000 after purchasing an additional 6,267 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Omega Therapeutics by 72.0% in the first quarter. Bank of America Corp DE now owns 16,208 shares of the company's stock valued at $101,000 after purchasing an additional 6,787 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company's stock.

Omega Therapeutics Company Profile

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.