Omega Therapeutics (NASDAQ:OMGA – Get Free Report)‘s stock had its “outperform” rating reaffirmed by Wedbush in a report released on Monday, RTT News reports. They presently have a $12.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 456.84% from the stock’s previous close.
A number of other brokerages have also recently commented on OMGA. Chardan Capital reduced their price objective on Omega Therapeutics from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 1st. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a research report on Tuesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $9.00 price objective (down previously from $10.00) on shares of Omega Therapeutics in a report on Wednesday, April 3rd.
Read Our Latest Report on OMGA
Omega Therapeutics Stock Performance
Omega Therapeutics (NASDAQ:OMGA – Get Free Report) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.09. Omega Therapeutics had a negative return on equity of 110.41% and a negative net margin of 3,147.92%. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million. As a group, equities research analysts expect that Omega Therapeutics will post -1.29 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Etfidea LLC bought a new position in Omega Therapeutics during the 4th quarter valued at $39,000. Murphy Pohlad Asset Management LLC purchased a new stake in shares of Omega Therapeutics in the fourth quarter valued at about $50,000. Finally, 683 Capital Management LLC lifted its position 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 purchasing an additional 33,242 shares in the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.
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.
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