Omega Therapeutics (NASDAQ:OMGA) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a research note released on Monday morning, RTT News reports. They currently have a $12.00 target price on the stock. Wedbush also issued estimates for Omega Therapeutics’ Q2 2024 earnings at ($0.40) EPS, Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.21) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.83) EPS.

Other analysts also recently issued reports about the stock. Chardan Capital lowered their price target 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. HC Wainwright restated a buy rating and set a $12.00 target price on shares of Omega Therapeutics in a report on Tuesday, April 30th. Finally, Piper Sandler reaffirmed an overweight rating and issued a $9.00 price target (down from $10.00) on shares of Omega Therapeutics in a research note on Wednesday, April 3rd.

Omega Therapeutics Stock Performance

Shares of NASDAQ OMGA opened at $2.17 on Monday. The stock’s 50-day moving average is $3.07 and its 200 day moving average is $2.97. The stock has a market cap of $119.68 million, a price-to-earnings ratio of -1.20 and a beta of 1.99. Omega Therapeutics has a 1-year low of $1.30 and a 1-year high of $10.09. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.26.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.93 million. On average, sell-side analysts anticipate that Omega Therapeutics will post -1.29 EPS for the current fiscal year.

Institutional Trading of Omega Therapeutics

A number of institutional investors have recently modified their holdings of the company. 683 Capital Management LLC raised its position in Omega Therapeutics by 7.0% during the 3rd quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock valued at $1,093,000 after purchasing an additional 33,242 shares during the last quarter. Murphy Pohlad Asset Management LLC purchased a new stake in Omega Therapeutics in the fourth quarter worth $50,000. Finally, Etfidea LLC bought a new stake in Omega Therapeutics in the fourth quarter valued at $39,000. 97.47% of the stock is currently owned by hedge funds and other 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.