HC Wainwright restated their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA – Free Report) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $12.00 target price on the stock.
A number of other equities analysts have also weighed in on the stock. Raymond James initiated coverage on shares of Omega Therapeutics in a research note on Tuesday, June 18th. They issued an outperform rating and a $12.00 target price for the company. Wedbush reaffirmed an outperform rating and set a $12.00 price objective on shares of Omega Therapeutics in a research report on Wednesday, August 7th. Finally, Chardan Capital dropped their target price on Omega Therapeutics from $7.00 to $6.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Omega Therapeutics has a consensus rating of Buy and a consensus target price of $10.20.
Check Out Our Latest Analysis on OMGA
Omega Therapeutics Trading Down 2.6 %
Omega Therapeutics (NASDAQ:OMGA – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The firm had revenue of $2.13 million for the quarter, compared to the consensus estimate of $1.25 million. Omega Therapeutics had a negative net margin of 1,868.35% and a negative return on equity of 136.04%. Sell-side analysts anticipate that Omega Therapeutics will post -1.31 earnings per share for the current fiscal year.
Institutional Trading of Omega Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ground Swell Capital LLC bought a new position in Omega Therapeutics in the second quarter valued at approximately $40,000. Renaissance Technologies LLC acquired a new stake in shares of Omega Therapeutics in the 2nd quarter valued at approximately $266,000. XTX Topco Ltd bought a new position in shares of Omega Therapeutics in the second quarter valued at $174,000. Cubist Systematic Strategies LLC increased its holdings in Omega Therapeutics by 78.2% during the second quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock worth $65,000 after buying an additional 13,873 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Omega Therapeutics during the second quarter worth $460,000. Institutional investors and hedge funds own 97.47% of the company’s stock.
About Omega Therapeutics
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.
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