Omega Therapeutics (NASDAQ:OMGA) Rating Reiterated by Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA - Free Report) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $7.00 price target on the stock.

A number of other equities analysts also recently weighed in on OMGA. Piper Sandler restated an overweight rating and set a $9.00 target price (down from $10.00) on shares of Omega Therapeutics in a report on Wednesday, April 3rd. Wedbush restated an outperform rating and set a $12.00 price objective on shares of Omega Therapeutics in a research note on Monday. Finally, HC Wainwright reiterated 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 Stock Down 5.5 %

NASDAQ OMGA traded down $0.12 during trading on Tuesday, hitting $2.16. The stock had a trading volume of 462,227 shares, compared to its average volume of 1,652,747. 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 has a 12 month low of $1.30 and a 12 month high of $10.09. The company has a market capitalization of $118.85 million, a PE ratio of -1.19 and a beta of 1.99. The company's 50-day moving average price is $3.15 and its two-hundred day moving average price is $2.98.

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

Hedge Funds Weigh In On Omega Therapeutics

Several large investors have recently modified their holdings of OMGA. Etfidea LLC bought a new position in Omega Therapeutics in the 4th quarter valued at about $39,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Omega Therapeutics in the fourth quarter valued at approximately $50,000. Finally, 683 Capital Management LLC lifted its holdings in Omega Therapeutics by 7.0% during the 3rd quarter. 683 Capital Management LLC now owns 508,242 shares of the company's stock worth $1,093,000 after purchasing an additional 33,242 shares during the last quarter. 97.47% of the stock is 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.