Omega Therapeutics, Inc. (NASDAQ:OMGA) Sees Large Decrease in Short Interest

Omega Therapeutics, Inc. (NASDAQ:OMGAGet Rating) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totalling 743,000 shares, a decrease of 29.9% from the April 15th total of 1,060,000 shares. Based on an average trading volume of 164,300 shares, the short-interest ratio is currently 4.5 days. Currently, 4.3% of the shares of the stock are sold short.

Large investors have recently modified their holdings of the company. HarbourVest Partners LLC bought a new position in shares of Omega Therapeutics during the 3rd quarter valued at $49,897,000. Artal Group S.A. bought a new position in shares of Omega Therapeutics during the 3rd quarter valued at $42,856,000. BlackRock Inc. grew its holdings in shares of Omega Therapeutics by 84.7% during the 1st quarter. BlackRock Inc. now owns 1,905,388 shares of the company’s stock valued at $11,889,000 after purchasing an additional 873,823 shares during the last quarter. CHI Advisors LLC purchased a new stake in Omega Therapeutics during the 3rd quarter valued at $19,904,000. Finally, Vanguard Group Inc. boosted its position in Omega Therapeutics by 148.6% during the 1st quarter. Vanguard Group Inc. now owns 852,304 shares of the company’s stock valued at $5,318,000 after buying an additional 509,492 shares during the period. 88.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:OMGA traded up $0.21 during trading on Friday, reaching $2.87. The company had a trading volume of 119,158 shares, compared to its average volume of 171,344. The company has a fifty day moving average of $5.84 and a two-hundred day moving average of $11.60. Omega Therapeutics has a 12 month low of $2.49 and a 12 month high of $31.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.23 and a quick ratio of 15.23.

Omega Therapeutics (NASDAQ:OMGAGet Rating) last issued its quarterly earnings results on Thursday, March 10th. The company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.13. The company had revenue of $0.14 million during the quarter. On average, equities research analysts anticipate that Omega Therapeutics will post -2.17 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered shares of Omega Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, March 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Omega Therapeutics presently has a consensus rating of “Buy” and an average target price of $25.55.

Omega Therapeutics Company Profile (Get Rating)

Omega Therapeutics, Inc operates as a development-stage biopharmaceutical company. Its OMEGA Epigenomic Programming platform is designed to coopt nature's operating system by harnessing the power of epigenetics, the mechanism for gene control and cell differentiation. The company is developing omega epigenomic controller (OEC) candidates to up-regulate the expression of HNF4a, a transcriptional master regulator as a potential way to restore liver-cell function in patients suffering from chronic liver diseases; to control the expression of genes that have been strongly linked to cell-growth inhibition in patients with diabetes and other conditions to restore the capacity for corneal regeneration; to down-regulate expression of the CXCL1, 2, 3, and IL-8 gene cluster; to control expression of genes implicated in patients with idiopathic pulmonary fibrosis to halt or reverse disease progression and improve disease outcomes; to down-regulate the expression of SFRP1, a protein that inhibits hair growth; and to treat non-small cell lung cancer and small cell lung cancer.

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