Omega Therapeutics (NASDAQ:OMGA) Stock Rating Lowered by Raymond James

Omega Therapeutics (NASDAQ:OMGA) was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued on Friday,Briefing.com Automated Import reports.

Several other equities analysts have also recently commented on the stock. Chardan Capital dropped 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 report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Omega Therapeutics in a research report on Thursday, August 15th. Finally, Piper Sandler cut their price target on shares of Omega Therapeutics from $9.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.20.

Omega Therapeutics Stock Performance

NASDAQ OMGA opened at $1.01 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.19 and a current ratio of 2.19. The firm’s fifty day moving average price is $1.19 and its two-hundred day moving average price is $1.68. Omega Therapeutics has a fifty-two week low of $0.89 and a fifty-two week high of $6.30. The stock has a market cap of $55.70 million, a PE ratio of -0.71 and a beta of 1.84.

Hedge Funds Weigh In On Omega Therapeutics

Several large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its stake in Omega Therapeutics by 78.2% in 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 in the last quarter. Renaissance Technologies LLC bought a new stake in Omega Therapeutics during the second quarter valued at $266,000. XTX Topco Ltd purchased a new position in Omega Therapeutics during the second quarter worth about $174,000. Ground Swell Capital LLC bought a new position in Omega Therapeutics in the 2nd quarter worth about $40,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Omega Therapeutics in the 2nd quarter valued at about $460,000. Hedge funds and other 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.