Omega Therapeutics (NASDAQ:OMGA) PT raised to $8.00
Omega Therapeutics (NASDAQ:OMGA – Get Review) saw its target price raised by Piper Sandler research analysts from $7.00 to $8.00 in a research report released on Friday, reports The Fly. Piper Sandler’s price target would indicate an upside potential of 82.65% from the current stock price.
Separately, Goldman Sachs Group cut its price target on Omega Therapeutics from $7.00 to $4.00 and set a “neutral” rating on the stock in a Tuesday, May 24 report.
Omega Therapeutics Share Performance
Shares of OMGA traded at $0.04 during Friday’s midday session, hitting $4.38. 975 shares of the company have traded, compared to its average volume of 167,751. The company’s 50-day moving average price is $3.18 and its 200-day moving average price is $6.92 . The stock has a market capitalization of $209.57 million and a P/E ratio of -0.91. The company has a debt ratio of 0.11, a quick ratio of 15.23 and a current ratio of 15.23. Omega Therapeutics has a 12-month low of $1.98 and a 12-month high of $31.41.
Omega Therapeutics (NASDAQ:OMGA – Get Rating) last reported quarterly results on Wednesday, May 4. The company reported ($0.42) earnings per share for the quarter, beating analyst consensus estimates of ($0.57) by $0.15. The company had revenue of $0.27 million for the quarter. Stock analysts predict Omega Therapeutics will post -2.17 earnings per share for the current year.
Institutional entries and exits
A number of hedge funds have recently changed their positions in OMGA. The New York State Common Retirement Fund acquired a new position in Omega Therapeutics in the fourth quarter worth approximately $50,000. California State Teachers Retirement System increased its position in Omega Therapeutics by 137.2% in the first quarter. California State Teachers Retirement System now owns 9,475 shares of the company worth $59,000 after purchasing an additional 5,480 shares in the last quarter. American International Group Inc. increased its position in Omega Therapeutics by 175.3% in the first quarter. American International Group Inc. now owns 11,058 shares of the company worth $69,000 after purchasing an additional 7,041 shares in the last quarter. Rhumbline Advisers acquired a new position in Omega Therapeutics in the first quarter worth approximately $96,000. Finally, Bank of America Corp DE increased its position in Omega Therapeutics by 72.0% in the first quarter. Bank of America Corp DE now owns 16,208 shares of the company worth $101,000 after buying 6,787 additional shares in the last quarter. Institutional investors and hedge funds hold 88.85% of the company’s shares.
Omega Therapeutics Company Profile
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Omega Therapeutics, Inc operates as a development-stage biopharmaceutical company. Its OMEGA epigenomic programming platform is designed to co-opt nature’s operating system by harnessing the power of epigenetics, gene control machinery and cell differentiation. The company is developing candidate omega epigenomic controllers (OECs) to upregulate the expression of HNF4a, a master regulator of transcription as a potential way to restore liver cell function in patients with chronic liver disease; controlling the expression of genes that have been strongly linked to cell growth inhibition in patients with diabetes and other conditions to restore the regenerative capacity of the cornea; to down-regulate the expression of the CXCL1, 2, 3 and IL-8 gene cluster; controlling the expression of implicated genes in patients with idiopathic pulmonary fibrosis to halt or reverse disease progression and improve disease outcomes; to down-regulate the expression of SFRP1, a protein that inhibits hair growth; and to treat non-small cell lung cancer and small cell lung cancer.
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