Omega Therapeutics’ (OMGA) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Omega Therapeutics (NASDAQ:OMGA) in a research note released on Tuesday morning, Benzinga reports. Chardan Capital currently has a $7.00 price objective on the stock.

OMGA has been the topic of a number of other reports. Wedbush reiterated an outperform rating and set a $12.00 price objective on shares of Omega Therapeutics in a research note on Monday. HC Wainwright reiterated a buy rating and issued a $12.00 price target on shares of Omega Therapeutics in a research note on Tuesday, April 30th. Finally, Piper Sandler restated an overweight rating and set a $9.00 price objective (down previously from $10.00) on shares of Omega Therapeutics in a research note on Wednesday, April 3rd.

Omega Therapeutics Stock Performance

NASDAQ:OMGA opened at $2.16 on Tuesday. Omega Therapeutics has a 1-year low of $1.30 and a 1-year high of $10.09. The stock has a market cap of $118.85 million, a P/E ratio of -1.19 and a beta of 1.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.35 and a quick ratio of 3.35. The firm has a 50-day moving average of $3.15 and a two-hundred day moving average of $2.98.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OMGA. Etfidea LLC bought a new position in Omega Therapeutics in the fourth quarter worth about $39,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Omega Therapeutics in the 4th quarter worth approximately $50,000. Finally, 683 Capital Management LLC boosted 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. 97.47% of the stock is owned by institutional investors and hedge funds.

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.