Fmr LLC Has $7.40 Million Holdings in Omega Therapeutics, Inc. (NASDAQ:OMGA)

Fmr LLC decreased its holdings in Omega Therapeutics, Inc. (NASDAQ:OMGA) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,062,104 shares of the company’s stock after selling 179,912 shares during the period. Fmr LLC owned approximately 10.99% of Omega Therapeutics worth $7,396,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Green Alpha Advisors LLC bought a new stake in Omega Therapeutics in the third quarter valued at approximately $76,000. Cubist Systematic Strategies LLC boosted its holdings in Omega Therapeutics by 78.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock worth $65,000 after acquiring an additional 13,873 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Omega Therapeutics in the 2nd quarter worth approximately $460,000. XTX Topco Ltd bought a new position in Omega Therapeutics during the second quarter valued at about $174,000. Finally, Renaissance Technologies LLC purchased a new position in Omega Therapeutics in the second quarter valued at approximately $266,000. 97.47% of the stock is owned by institutional investors.

Omega Therapeutics Stock Up 2.5 %

OMGA stock opened at $0.97 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $53.94 million, a P/E ratio of -0.73 and a beta of 1.69. The business has a fifty day moving average price of $1.02 and a 200-day moving average price of $1.48. Omega Therapeutics, Inc. has a 1-year low of $0.75 and a 1-year high of $6.30.

Analyst Upgrades and Downgrades

OMGA has been the subject of a number of recent research reports. Raymond James lowered shares of Omega Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Piper Sandler dropped their target price on Omega Therapeutics from $9.00 to $4.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Omega Therapeutics 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.