Q2 2024 Earnings Estimate for Omega Therapeutics, Inc. Issued By Wedbush (NASDAQ:OMGA)

Omega Therapeutics, Inc. (NASDAQ:OMGA) – Research analysts at Wedbush cut their Q2 2024 earnings per share (EPS) estimates for shares of Omega Therapeutics in a research report issued to clients and investors on Monday, May 6th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings per share of ($0.40) for the quarter, down from their prior estimate of ($0.36). Wedbush has a “Outperform” rating and a $12.00 price target 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.

OMGA has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Omega Therapeutics in a research report on Tuesday, April 30th. Piper Sandler reaffirmed an “overweight” rating and set a $9.00 target price (down previously from $10.00) on shares of Omega Therapeutics in a research note on Wednesday, April 3rd. Finally, Chardan Capital reissued a “buy” rating and issued a $7.00 price target on shares of Omega Therapeutics in a research report on Tuesday.

Omega Therapeutics Trading Down 0.5 %

NASDAQ OMGA opened at $2.15 on Thursday. The firm’s 50 day moving average price is $3.11 and its two-hundred day moving average price is $2.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.35 and a current ratio of 3.35. Omega Therapeutics has a twelve month low of $1.30 and a twelve month high of $10.09. The stock has a market cap of $118.30 million, a price-to-earnings ratio of -1.19 and a beta of 1.99.

Omega Therapeutics (NASDAQ:OMGA) last released its earnings results 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 net margin of 3,147.92% and a negative return on equity of 110.41%. The business had revenue of $0.99 million for the quarter, compared to the consensus estimate of $0.93 million.

Hedge Funds Weigh In On Omega Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Etfidea LLC bought a new position in shares of Omega Therapeutics during the 4th quarter valued at $39,000. Murphy Pohlad Asset Management LLC bought a new position in shares of Omega Therapeutics in the fourth quarter valued at approximately $50,000. Finally, 683 Capital Management LLC lifted its stake in shares of Omega Therapeutics by 7.0% in 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 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.