Omega Therapeutics (NASDAQ:OMGA) Receives New Coverage from Analysts at Raymond James

Raymond James began coverage on shares of Omega Therapeutics (NASDAQ:OMGA) in a report published on Tuesday, Marketbeat reports. The firm issued an outperform rating and a $12.00 price target on the stock.

Several other analysts also recently weighed in on OMGA. Piper Sandler reiterated an overweight rating and set a $9.00 target price (down from $10.00) on shares of Omega Therapeutics in a research report on Wednesday, April 3rd. Wedbush reiterated an outperform rating and set a $12.00 target price on shares of Omega Therapeutics in a research report on Monday, May 6th. Chardan Capital restated a buy rating and issued a $7.00 price objective on shares of Omega Therapeutics in a report on Tuesday, May 7th. Finally, HC Wainwright restated a buy rating and issued a $12.00 price objective on shares of Omega Therapeutics in a report on Monday, May 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Omega Therapeutics currently has an average rating of Buy and a consensus price target of $10.40.

Omega Therapeutics Stock Up 19.4 %

Shares of OMGA opened at $2.22 on Tuesday. Omega Therapeutics has a 52-week low of $1.30 and a 52-week high of $7.79. The company has a market cap of $122.43 million, a PE ratio of -1.33 and a beta of 1.91. The business has a fifty day moving average of $2.27 and a 200 day moving average of $3.06. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.34.

Omega Therapeutics (NASDAQ:OMGA) last released its earnings results on Monday, May 6th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.02. Omega Therapeutics had a negative return on equity of 136.04% and a negative net margin of 1,868.35%. The business had revenue of $2.36 million during the quarter, compared to the consensus estimate of $0.93 million. On average, sell-side analysts expect that Omega Therapeutics will post -1.3 EPS for the current year.

Institutional Trading of Omega Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC grew its stake in 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 purchasing an additional 33,242 shares during the last quarter. Murphy Pohlad Asset Management LLC purchased a new position in Omega Therapeutics in the fourth quarter valued at about $50,000. Finally, Etfidea LLC purchased a new position in Omega Therapeutics in the fourth quarter valued at about $39,000. 97.47% of the stock is currently 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.