Omega Therapeutics’ (OMGA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a report released on Tuesday morning, Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright also issued estimates for Omega Therapeutics’ Q1 2024 earnings at ($0.38) EPS, Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.31) EPS and FY2024 earnings at ($1.38) EPS.

Several other research analysts have also recently weighed in on OMGA. Piper Sandler reiterated an overweight rating and set a $9.00 price objective (down previously from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd. Chardan Capital dropped their price objective on shares of Omega Therapeutics from $12.00 to $7.00 and set a buy rating for the company in a research note on Monday, April 1st. Finally, Wedbush restated an outperform rating and set a $12.00 target price on shares of Omega Therapeutics in a research report on Thursday, January 4th.

Omega Therapeutics Stock Performance

OMGA traded down $0.18 on Tuesday, reaching $2.58. The company had a trading volume of 394,181 shares, compared to its average volume of 1,679,046. The stock has a market cap of $142.29 million, a P/E ratio of -1.43 and a beta of 1.99. 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 fifty-two week low of $1.30 and a fifty-two week high of $10.09. The company’s fifty day moving average is $3.23 and its 200 day moving average is $2.96.

Omega Therapeutics (NASDAQ:OMGA) last issued its quarterly earnings data on Thursday, March 28th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. The company 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 110.41% and a negative net margin of 3,147.92%. As a group, analysts predict that Omega Therapeutics will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Omega Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. 683 Capital Management LLC lifted its stake in Omega Therapeutics by 7.0% during the third 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. Murphy Pohlad Asset Management LLC bought a new stake in shares of Omega Therapeutics during the 4th quarter worth $50,000. Finally, Etfidea LLC acquired a new stake in Omega Therapeutics in the fourth quarter valued at about $39,000. 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.