Omega Therapeutics (NASDAQ:OMGA) Downgraded to “Hold” at Zacks Investment Research

Omega Therapeutics (NASDAQ:OMGA – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Omega Therapeutics Inc. is a development-stage biotechnology company. Its OMEGA Epigenomic Programming(TM) platform harness the power of epigenetics to develop a new class of DNA-sequence-targeting, mRNA-encoded programmable epigenetic medicines. Omega Therapeutics Inc. is based in CAMBRIDGE, Mass. “

Separately, Piper Sandler cut their price objective on Omega Therapeutics from $30.00 to $7.00 and set an “overweight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $19.60.

Omega Therapeutics stock opened at $2.62 on Tuesday. The stock’s 50 day moving average is $5.04 and its 200 day moving average is $10.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 15.23 and a quick ratio of 15.23. The firm has a market cap of $125.36 million and a P/E ratio of -0.55. Omega Therapeutics has a one year low of $2.49 and a one year high of $31.41.

Omega Therapeutics (NASDAQ:OMGA – Get Rating) last posted its quarterly earnings data 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. Equities analysts anticipate that Omega Therapeutics will post -2.17 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of OMGA. Deutsche Bank AG bought a new stake in Omega Therapeutics in the third quarter worth approximately $80,000. BlackRock Inc. bought a new stake in Omega Therapeutics in the third quarter worth approximately $18,061,000. Geode Capital Management LLC bought a new stake in Omega Therapeutics in the third quarter worth approximately $1,355,000. Caas Capital Management LP bought a new stake in Omega Therapeutics in the third quarter worth approximately $189,000. Finally, HarbourVest Partners LLC bought a new stake in Omega Therapeutics in the third quarter worth approximately $49,897,000. Institutional investors and hedge funds own 88.85% of the company’s stock.

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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