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

HC Wainwright restated their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a research report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a $12.00 target price on the stock. HC Wainwright also issued estimates for Omega Therapeutics’ Q1 2024 earnings at ($0.38) EPS, Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.34) EPS, Q4 2024 earnings at ($0.31) EPS and FY2024 earnings at ($1.38) EPS.

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

Omega Therapeutics Price Performance

OMGA stock opened at $2.58 on Tuesday. The company’s 50-day moving average price is $3.23 and its two-hundred day moving average price is $2.96. The firm has a market cap of $142.29 million, a P/E ratio of -1.43 and a beta of 1.99. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.26. Omega Therapeutics has a 12 month low of $1.30 and a 12 month high of $10.09.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.09. The company had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $0.93 million. Omega Therapeutics had a negative return on equity of 110.41% and a negative net margin of 3,147.92%. On average, analysts anticipate that Omega Therapeutics will post -1.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Omega Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. 683 Capital Management LLC lifted its holdings in shares of Omega Therapeutics by 7.0% during the third quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock worth $1,093,000 after purchasing an additional 33,242 shares during the period. Murphy Pohlad Asset Management LLC acquired a new position in Omega Therapeutics during the 4th quarter worth about $50,000. Finally, Etfidea LLC bought a new stake in shares of Omega Therapeutics in the 4th quarter valued at about $39,000. 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.