HC Wainwright Reiterates “Buy” Rating for Omega Therapeutics (NASDAQ:OMGA)

Omega Therapeutics (NASDAQ:OMGA)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued on Tuesday, Benzinga reports. They presently have a $12.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 424.02% from the stock’s current price.

OMGA has been the topic of several other reports. Wedbush reaffirmed an “outperform” rating and set a $12.00 price target on shares of Omega Therapeutics in a research report on Thursday, January 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $9.00 target price (down from $10.00) on shares of Omega Therapeutics in a report on Wednesday, April 3rd. Finally, Chardan Capital reduced their price target on Omega Therapeutics from $12.00 to $7.00 and set a “buy” rating for the company in a report on Monday, April 1st.

Omega Therapeutics Price Performance

NASDAQ:OMGA opened at $2.29 on Tuesday. The stock’s 50-day simple moving average is $3.32 and its 200 day simple moving average is $2.95. Omega Therapeutics has a 52-week low of $1.30 and a 52-week high of $10.09. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.35 and a current ratio of 3.35. The company has a market cap of $126.29 million, a P/E ratio of -1.27 and a beta of 1.83.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly 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. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $0.93 million. Omega Therapeutics had a negative return on equity of 110.41% and a negative net margin of 3,147.92%. As a group, sell-side analysts forecast that Omega Therapeutics will post -1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Etfidea LLC bought a new position in shares of Omega Therapeutics during the fourth quarter worth approximately $39,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of Omega Therapeutics during the fourth quarter worth $50,000. Finally, 683 Capital Management LLC boosted its position 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 valued at $1,093,000 after acquiring an additional 33,242 shares during the period. 97.47% of the stock is owned by 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.