Omega Therapeutics, Inc. (NASDAQ:OMGA) Forecasted to Post Q2 2024 Earnings of ($0.40) Per Share

Omega Therapeutics, Inc. (NASDAQ:OMGA) – Analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of Omega Therapeutics in a research note issued to investors on Monday, May 6th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($0.40) per share for the quarter, down from their previous estimate of ($0.36). Wedbush currently has a “Outperform” rating and a $12.00 target price on the stock. The consensus estimate for Omega Therapeutics’ current full-year earnings is ($1.29) per share. Wedbush also issued estimates for Omega Therapeutics’ Q3 2024 earnings at ($0.25) EPS, Q4 2024 earnings at ($0.23) EPS, FY2024 earnings at ($1.18) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.21) EPS, Q4 2025 earnings at ($0.22) EPS and FY2025 earnings at ($0.83) EPS.

Omega Therapeutics (NASDAQ:OMGA) last posted its earnings results on Thursday, March 28th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. Omega Therapeutics had a negative net margin of 3,147.92% and a negative return on equity of 110.41%. The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.93 million.

A number of other research analysts have also commented on the company. Chardan Capital reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Omega Therapeutics in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research note on Tuesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $9.00 target price (down previously from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd.

Omega Therapeutics Trading Down 0.5 %

Shares of NASDAQ:OMGA opened at $2.15 on Thursday. The stock has a market cap of $118.30 million, a PE ratio of -1.19 and a beta of 1.99. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.26. Omega Therapeutics has a 12-month low of $1.30 and a 12-month high of $10.09. The business has a 50 day moving average of $3.11 and a 200-day moving average of $2.98.

Institutional Trading of Omega Therapeutics

Several large investors have recently made changes to their positions in OMGA. Etfidea LLC bought a new position in shares of Omega Therapeutics in the 4th quarter valued at $39,000. Murphy Pohlad Asset Management LLC acquired a new stake in Omega Therapeutics in the fourth quarter valued at approximately $50,000. Finally, 683 Capital Management LLC grew 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 worth $1,093,000 after buying an additional 33,242 shares during the last quarter. Institutional investors and hedge funds 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.