Omega Therapeutics (NASDAQ:OMGA) Receives “Buy” Rating from Chardan Capital

Omega Therapeutics (NASDAQ:OMGA)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research note issued on Tuesday, Benzinga reports. They presently have a $7.00 price objective on the stock. Chardan Capital’s price target points to a potential upside of 215.32% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Wedbush restated an “outperform” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $9.00 price target (down from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research report on Tuesday, April 30th.

Omega Therapeutics Trading Down 2.6 %

NASDAQ:OMGA traded down $0.06 during mid-day trading on Tuesday, reaching $2.22. The company’s stock had a trading volume of 218,043 shares, compared to its average volume of 1,649,921. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.35 and a quick ratio of 3.35. The stock has a market cap of $122.43 million, a P/E ratio of -1.25 and a beta of 1.99. The company’s fifty day simple moving average is $3.19 and its two-hundred day simple moving average is $2.98. Omega Therapeutics has a twelve month low of $1.30 and a twelve month high of $10.09.

Omega Therapeutics (NASDAQ:OMGA) last issued 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. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million. Omega Therapeutics had a negative net margin of 3,147.92% and a negative return on equity of 110.41%. On average, equities analysts predict that Omega Therapeutics will post -1.29 EPS for the current year.

Hedge Funds Weigh In On Omega Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Etfidea LLC bought a new position in shares of Omega Therapeutics in the fourth quarter worth $39,000. Murphy Pohlad Asset Management LLC bought a new position in shares of Omega Therapeutics in the fourth quarter valued at approximately $50,000. Finally, 683 Capital Management LLC increased its stake in shares of 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. 97.47% of the stock is currently owned by institutional investors and hedge funds.

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.