Piper Sandler Lowers Omega Therapeutics (NASDAQ:OMGA) Price Target to $4.00

Omega Therapeutics (NASDAQ:OMGA) had its price target trimmed by Piper Sandler from $9.00 to $4.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on OMGA. Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a report on Thursday, August 15th. Finally, Chardan Capital lowered their price objective on Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.20.

Omega Therapeutics Stock Down 7.6 %

Shares of NASDAQ OMGA opened at $0.77 on Friday. The firm’s 50 day moving average price is $1.18 and its 200 day moving average price is $1.66. 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 has a market cap of $42.20 million, a P/E ratio of -0.59 and a beta of 1.84. Omega Therapeutics has a 1 year low of $0.75 and a 1 year high of $6.30.

Institutional Investors Weigh In On Omega Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ground Swell Capital LLC acquired a new position in Omega Therapeutics during the second quarter valued at $40,000. Cubist Systematic Strategies LLC raised its stake in shares of Omega Therapeutics by 78.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock valued at $65,000 after acquiring an additional 13,873 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in Omega Therapeutics in the 3rd quarter valued at $76,000. XTX Topco Ltd bought a new position in shares of Omega Therapeutics in the second quarter worth about $174,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Omega Therapeutics during the second quarter worth approximately $266,000. 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.