FY2023 EPS Estimates for Omega Therapeutics, Inc. (NASDAQ:OMGA) Lifted by Analyst

Omega Therapeutics, Inc. (NASDAQ:OMGA) – Research analysts at HC Wainwright upped their FY2023 earnings per share (EPS) estimates for Omega Therapeutics in a research note issued to investors on Monday, November 13th. HC Wainwright analyst R. Burns now expects that the company will earn ($1.90) per share for the year, up from their prior forecast of ($2.28). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Omega Therapeutics’ current full-year earnings is ($2.03) per share. HC Wainwright also issued estimates for Omega Therapeutics’ Q4 2023 earnings at ($0.46) EPS.

A number of other equities analysts have also weighed in on the company. Wedbush dropped their price objective on Omega Therapeutics from $19.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, November 10th. Chardan Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research note on Friday, August 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.40.

Omega Therapeutics Stock Performance

NASDAQ OMGA opened at $1.86 on Wednesday. The firm has a market cap of $102.56 million, a price-to-earnings ratio of -0.89 and a beta of 1.08. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.21. The business has a 50-day moving average price of $2.16 and a 200-day moving average price of $4.70. Omega Therapeutics has a twelve month low of $1.30 and a twelve month high of $11.98.

Hedge Funds Weigh In On Omega Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flagship Pioneering Inc. boosted its stake in Omega Therapeutics by 12.8% during the first quarter. Flagship Pioneering Inc. now owns 29,225,579 shares of the company’s stock valued at $176,230,000 after buying an additional 3,323,310 shares during the last quarter. FMR LLC boosted its stake in Omega Therapeutics by 17.8% during the first quarter. FMR LLC now owns 5,417,659 shares of the company’s stock valued at $32,668,000 after buying an additional 818,216 shares during the last quarter. HarbourVest Partners LLC raised its position in Omega Therapeutics by 32.7% during the first quarter. HarbourVest Partners LLC now owns 3,512,110 shares of the company’s stock valued at $21,178,000 after purchasing an additional 865,051 shares during the period. BlackRock Inc. raised its position in Omega Therapeutics by 84.7% during the first 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 period. Finally, Vanguard Group Inc. raised its position in Omega Therapeutics by 32.2% during the third quarter. Vanguard Group Inc. now owns 991,149 shares of the company’s stock valued at $5,372,000 after purchasing an additional 241,526 shares during the period. 92.68% of the stock is owned by institutional investors.

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.