Q1 2024 EPS Estimates for Omega Therapeutics, Inc. Lifted by Analyst (NASDAQ:OMGA)

Omega Therapeutics, Inc. (NASDAQ:OMGA) – Equities research analysts at HC Wainwright increased their Q1 2024 EPS estimates for shares of Omega Therapeutics in a report issued on Tuesday, April 30th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($0.38) per share for the quarter, up from their prior forecast of ($0.49). HC Wainwright has a “Buy” rating and a $12.00 price objective on the stock. The consensus estimate for Omega Therapeutics’ current full-year earnings is ($1.29) per share. HC Wainwright also issued estimates for Omega Therapeutics’ 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.

Several other research firms also recently weighed in on OMGA. Piper Sandler reissued an “overweight” rating and issued a $9.00 price target (down from $10.00) on shares of Omega Therapeutics in a research note on Wednesday, April 3rd. Chardan Capital lowered their target price on Omega Therapeutics from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, April 1st.

Omega Therapeutics Price Performance

Shares of Omega Therapeutics stock opened at $2.58 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.35 and a current ratio of 3.35. Omega Therapeutics has a 52-week low of $1.30 and a 52-week high of $10.09. The company has a fifty day moving average of $3.23 and a 200-day moving average of $2.96. The stock has a market capitalization of $142.29 million, a price-to-earnings ratio of -1.43 and a beta of 1.99.

Omega Therapeutics (NASDAQ:OMGA) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.37) EPS for the quarter, beating 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%.

Institutional Trading of Omega Therapeutics

A number of institutional investors have recently modified their holdings of OMGA. Etfidea LLC purchased a new position in Omega Therapeutics during the 4th quarter valued at $39,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Omega Therapeutics during the 4th quarter valued at about $50,000. Finally, 683 Capital Management LLC increased its position 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 valued at $1,093,000 after buying an additional 33,242 shares during the period. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

About Omega Therapeutics

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.