Omega Therapeutics (NASDAQ:OMGA) Earns “Overweight” Rating from Piper Sandler

Omega Therapeutics (NASDAQ:OMGAGet Free Report)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a report released on Wednesday, Benzinga reports. They presently have a $9.00 target price on the stock, down from their previous target price of $10.00. Piper Sandler’s target price points to a potential upside of 210.34% from the company’s current price.

OMGA has been the topic of a number of other reports. Chardan Capital reduced their price target on shares of Omega Therapeutics from $12.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a report on Thursday, January 4th.

Read Our Latest Analysis on OMGA

Omega Therapeutics Stock Performance

Shares of Omega Therapeutics stock traded down $0.11 during trading hours on Wednesday, reaching $2.90. The company’s stock had a trading volume of 122,698 shares, compared to its average volume of 2,139,086. The company’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $2.92. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.80 and a current ratio of 3.80. Omega Therapeutics has a one year low of $1.30 and a one year high of $10.09. The stock has a market cap of $159.94 million, a P/E ratio of -1.60 and a beta of 1.83.

Institutional Trading of Omega Therapeutics

Large investors have recently modified their holdings of the company. 683 Capital Management LLC increased its stake 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 buying an additional 33,242 shares during the period. Murphy Pohlad Asset Management LLC acquired a new position in Omega Therapeutics during the 4th quarter valued at about $50,000. Renaissance Technologies LLC acquired a new position in Omega Therapeutics during the 2nd quarter valued at about $364,000. LPL Financial LLC acquired a new position in Omega Therapeutics during the 2nd quarter valued at about $42,000. Finally, Bank of America Corp DE increased its stake in Omega Therapeutics by 72.0% during the 1st quarter. Bank of America Corp DE now owns 16,208 shares of the company’s stock valued at $101,000 after buying an additional 6,787 shares during the period. Institutional investors and hedge funds own 97.47% of the company’s stock.

About Omega Therapeutics

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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.

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