HC Wainwright reiterated their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA – Free Report) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $12.00 price objective 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 topic of a number of other reports. Wedbush reaffirmed an outperform rating and issued a $12.00 price target on shares of Omega Therapeutics in a research note on Thursday, January 4th. Piper Sandler reaffirmed an overweight rating and issued a $9.00 target price (down from $10.00) on shares of Omega Therapeutics in a research note on Wednesday, April 3rd. Finally, Chardan Capital dropped their price target on shares of Omega Therapeutics from $12.00 to $7.00 and set a buy rating for the company in a research report on Monday, April 1st.
Check Out Our Latest Stock Analysis on OMGA
Omega Therapeutics Trading Down 6.5 %
Omega Therapeutics (NASDAQ:OMGA – Get Free Report) last posted its quarterly earnings results on Thursday, March 28th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.09. Omega Therapeutics had a negative net margin of 3,147.92% and a negative return on equity of 110.41%. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $0.93 million. As a group, equities research analysts forecast that Omega Therapeutics will post -1.29 earnings per share for the current year.
Institutional Trading of Omega Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. 683 Capital Management LLC increased its position in Omega Therapeutics by 7.0% during the 3rd quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock valued at $1,093,000 after purchasing an additional 33,242 shares during the period. Murphy Pohlad Asset Management LLC purchased a new position in shares of Omega Therapeutics during the fourth quarter valued at about $50,000. Finally, Etfidea LLC bought a new position in Omega Therapeutics in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 97.47% of the company’s stock.
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.
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