Wedbush Reiterates “Outperform” Rating for Omega Therapeutics (NASDAQ:OMGA)

Wedbush reiterated their outperform rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a research note published on Monday morning, RTT News reports. The brokerage currently has a $12.00 price target on the stock.

A number of other research firms also recently issued reports on OMGA. Chardan Capital dropped their target price on shares of Omega Therapeutics from $12.00 to $7.00 and set a buy rating on the stock in a research report on Monday, April 1st. Piper Sandler reiterated an overweight rating and set a $9.00 price objective (down previously from $10.00) on shares of Omega Therapeutics in a report on Wednesday, April 3rd. Finally, HC Wainwright restated a buy rating and issued a $12.00 target price on shares of Omega Therapeutics in a research note on Tuesday, April 30th.

Omega Therapeutics Price Performance

OMGA stock opened at $2.15 on Monday. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.26. The firm has a market cap of $118.30 million, a price-to-earnings ratio of -1.19 and a beta of 1.99. The company’s fifty day simple moving average is $3.11 and its 200 day simple moving average is $2.98. Omega Therapeutics has a 12-month low of $1.30 and a 12-month high of $10.09.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly earnings data 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 return on equity of 110.41% and a negative net margin of 3,147.92%. The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million. On average, analysts expect that Omega Therapeutics will post -1.29 earnings per share for the current year.

Institutional Investors Weigh In On Omega Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Etfidea LLC purchased a new position in Omega Therapeutics during the 4th quarter worth $39,000. Murphy Pohlad Asset Management LLC purchased a new position in Omega Therapeutics during the fourth quarter worth about $50,000. Finally, 683 Capital Management LLC grew its position in Omega Therapeutics by 7.0% in the 3rd quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock worth $1,093,000 after purchasing an additional 33,242 shares in the last quarter. 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.