Omega Therapeutics (NASDAQ:OMGA) Given New $4.00 Price Target at Piper Sandler

Omega Therapeutics (NASDAQ:OMGA) had its price objective lowered by Piper Sandler from $9.00 to $4.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a research note on Thursday, August 15th. Finally, Chardan Capital lowered their target price on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Omega Therapeutics has an average rating of “Moderate Buy” and an average target price of $9.20.

Omega Therapeutics Price Performance

Shares of OMGA stock opened at $0.77 on Friday. Omega Therapeutics has a 12 month low of $0.75 and a 12 month high of $6.30. The stock has a 50-day moving average price of $1.18 and a 200 day moving average price of $1.66. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The firm has a market cap of $42.20 million, a price-to-earnings ratio of -0.59 and a beta of 1.84.

Institutional Trading of Omega Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in OMGA. Cubist Systematic Strategies LLC raised its position 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 purchasing an additional 13,873 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Omega Therapeutics in the 2nd quarter worth about $40,000. Green Alpha Advisors LLC bought a new position in Omega Therapeutics during the 3rd quarter valued at $76,000. XTX Topco Ltd bought a new position in shares of Omega Therapeutics during the 2nd quarter worth approximately $174,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Omega Therapeutics in the 2nd quarter worth about $266,000. 97.47% of the stock is currently 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.