Shares of Omega Therapeutics (NASDAQ:OMGA) rose 0.8%

Omega Therapeutics, Inc. stock price. (NASDAQ:OMGA – Get Your Free Report ) was up 0.8% during mid-day trading on Monday. The stock traded as high as $1.29 and last traded at $1.23. 114,225 shares changed hands in mid-day trading, down 89% from the session’s average volume of 1,032,337 shares. Shares previously closed at $1.22.

Changes in Analyst Ratings

A number of brokerages weighed in on OMGA. Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Wednesday, August 7th. Chardan Capital decreased their target price on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Raymond James initiated coverage on shares of Omega Therapeutics in a research report on Tuesday, June 18th. They set an “outperform” rating and a $12.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Omega Therapeutics in a research report on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $10.20.

See our latest stock report on Omega Therapeutics

Omega Therapeutics price performance

The company has a market cap of $67.83 million, a PE ratio of -0.74 and a beta of 1.87. The company has a quick ratio of 2.19, a current ratio of 2.19, and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $1.67 and a 200-day simple moving average of $2.38.

Omega Therapeutics (NASDAQ:OMGA – Get Free Report ) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. Omega Therapeutics had a negative net margin of 1,249.54% and a negative return on equity of 156.48%. The firm had revenue of $2.13 million for the quarter, compared to the consensus estimate of $1.25 million. As a group, research analysts predict that Omega Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

Institutional inputs and outputs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ground Swell Capital LLC acquired a new stake in Omega Therapeutics in the second quarter valued at about $40,000. Cubist Systematic Strategies LLC raised its position in shares of Omega Therapeutics by 78.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock valued at $65,000 after buying an additional 13,873 shares in the last quarter . XTX Topco Ltd purchased a new stake in Omega Therapeutics in the second quarter valued at approximately $174,000. Renaissance Technologies LLC acquired a new stake in Omega Therapeutics in the second quarter valued at approximately $266,000. Finally, Squarepoint Ops LLC purchased a new stake in Omega Therapeutics in the second quarter valued at approximately $460,000. 97.47% of the shares are currently held by hedge funds and other institutional investors.

About Omega Therapeutics

(Get a free report)

Omega Therapeutics, Inc operates as a clinical-stage biotechnology company. The company’s OMEGA platform enables the control of fundamental epigenetic processes to correct the root cause of disease by restoring aberrant gene expression within a range without altering native nucleic acid sequences. It is also developing OTX-2002 for hepatocellular carcinoma; OTX-2101 for non-small cell lung cancer; omega epigenomic controllers (OEC) for pulmonary inflammatory diseases such as neutrophilic asthma, acute respiratory distress syndrome, dermatological, oncological and rheumatological indications; OEC Candidates for Idiopathic Pulmonary Fibrosis; drugs for liver regeneration; and OEC candidates for patients with diabetes and other conditions to treat corneal epithelial lesions.

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