Omega Therapeutics (NASDAQ:OMGA – Get Free Report)’s stock had its “outperform” rating restated by equities research analysts at Wedbush in a report released on Thursday, Benzinga reports. They presently have a $12.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 111.27% from the stock’s current price.
Separately, HC Wainwright upped their target price on shares of Omega Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, November 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Omega Therapeutics has an average rating of “Buy” and an average target price of $11.40.
Omega Therapeutics Trading Up 108.1 %
OMGA stock traded up $2.95 during trading on Thursday, hitting $5.68. The company had a trading volume of 82,950,657 shares, compared to its average volume of 27,315,260. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.21. The firm has a 50-day moving average price of $2.16 and a 200-day moving average price of $3.27. Omega Therapeutics has a 12 month low of $1.30 and a 12 month high of $11.98. The stock has a market cap of $313.20 million, a price-to-earnings ratio of -2.73 and a beta of 1.83.
Omega Therapeutics (NASDAQ:OMGA – Get Free Report) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.16. Omega Therapeutics had a negative net margin of 3,802.89% and a negative return on equity of 107.79%. The firm had revenue of $0.83 million during the quarter, compared to analysts’ expectations of $0.75 million. As a group, analysts predict that Omega Therapeutics will post -1.95 earnings per share for the current year.
Institutional Investors Weigh In On Omega Therapeutics
Several institutional investors have recently bought and sold shares of OMGA. Flagship Pioneering Inc. lifted its stake in Omega Therapeutics by 12.8% in the 1st quarter. Flagship Pioneering Inc. now owns 29,225,579 shares of the company’s stock valued at $176,230,000 after acquiring an additional 3,323,310 shares in the last quarter. BlackRock Inc. increased its position in shares of Omega Therapeutics by 194.2% during the 2nd quarter. BlackRock Inc. now owns 1,609,686 shares of the company’s stock worth $9,014,000 after purchasing an additional 1,062,612 shares during the last quarter. HarbourVest Partners LLC increased its position in shares of Omega Therapeutics by 32.7% during the 1st quarter. HarbourVest Partners LLC now owns 3,512,110 shares of the company’s stock worth $21,178,000 after purchasing an additional 865,051 shares during the last quarter. FMR LLC increased its position in shares of Omega Therapeutics by 17.8% during the 1st quarter. FMR LLC now owns 5,417,659 shares of the company’s stock worth $32,668,000 after purchasing an additional 818,216 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Omega Therapeutics by 148.6% during the 1st quarter. Vanguard Group Inc. now owns 852,304 shares of the company’s stock worth $5,318,000 after purchasing an additional 509,492 shares during the last quarter. Institutional investors own 92.68% of the company’s stock.
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.