Omega Therapeutics' (OMGA) Buy Rating Reaffirmed at HC Wainwright

Omega Therapeutics (NASDAQ:OMGA - Get Free Report)'s stock had its "buy" rating restated by HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $12.00 price objective on the stock. HC Wainwright's target price suggests a potential upside of 409.55% from the company's previous close.

Several other research analysts also recently weighed in on the company. Wedbush reiterated an "outperform" rating and issued a $12.00 target price on shares of Omega Therapeutics in a research note on Monday, May 6th. Chardan Capital reissued a "buy" rating and issued a $7.00 target price on shares of Omega Therapeutics in a report on Tuesday, May 7th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $9.00 price objective (down from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd.

Omega Therapeutics Stock Up 20.2 %

OMGA stock traded up $0.40 during midday trading on Monday, reaching $2.36. 735,529 shares of the company were exchanged, compared to its average volume of 1,603,023. The stock's 50-day simple moving average is $3.03 and its 200 day simple moving average is $3.00. Omega Therapeutics has a 1-year low of $1.30 and a 1-year high of $10.09. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.87 and a current ratio of 2.87. The company has a market cap of $129.88 million, a price-to-earnings ratio of -1.41 and a beta of 1.99.

Omega Therapeutics (NASDAQ:OMGA - Get Free Report) last announced its earnings results on Thursday, March 28th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.46) by $0.09. The firm had revenue of $0.99 million during the quarter, compared to analysts' expectations of $0.93 million. Omega Therapeutics had a negative return on equity of 136.04% and a negative net margin of 1,868.35%. On average, equities analysts forecast that Omega Therapeutics will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Etfidea LLC acquired a new position in Omega Therapeutics during the fourth quarter worth approximately $39,000. Murphy Pohlad Asset Management LLC acquired a new position in Omega Therapeutics in the fourth quarter valued at $50,000. Finally, 683 Capital Management LLC grew its position in Omega Therapeutics by 7.0% during the third quarter. 683 Capital Management LLC now owns 508,242 shares of the company's stock valued at $1,093,000 after acquiring an additional 33,242 shares during the period. Institutional investors and hedge funds 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.