Omega Therapeutics (NASDAQ:OMGA) Cut to “Market Perform” at Raymond James

Raymond James cut shares of Omega Therapeutics (NASDAQ:OMGA) from an outperform rating to a market perform rating in a research report released on Friday, MarketBeat.com reports.

Several other analysts have also weighed in on OMGA. Wedbush restated an “outperform” rating and set a $12.00 price target on shares of Omega Therapeutics in a report on Wednesday, August 7th. Chardan Capital reduced their target price on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Omega Therapeutics in a report on Thursday, August 15th. Finally, Piper Sandler reduced their price target on shares of Omega Therapeutics from $9.00 to $4.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.20.

Omega Therapeutics Trading Down 7.6 %

Shares of NASDAQ OMGA opened at $0.77 on Friday. The stock has a market capitalization of $42.20 million, a P/E ratio of -0.59 and a beta of 1.84. Omega Therapeutics has a 1-year low of $0.75 and a 1-year high of $6.30. The business’s 50 day moving average is $1.18 and its two-hundred day moving average is $1.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Investors Weigh In On Omega Therapeutics

Several hedge funds have recently added to or reduced their stakes in OMGA. Ground Swell Capital LLC acquired a new position in shares of Omega Therapeutics in the 2nd quarter valued at $40,000. Cubist Systematic Strategies LLC grew its position in Omega Therapeutics by 78.2% during the second quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock valued at $65,000 after buying an additional 13,873 shares during the period. Green Alpha Advisors LLC purchased a new position in Omega Therapeutics in the third quarter valued at $76,000. XTX Topco Ltd purchased a new stake in shares of Omega Therapeutics during the 2nd quarter worth about $174,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Omega Therapeutics during the 2nd quarter worth about $266,000. 97.47% of the stock is owned by hedge funds and other 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.