Piper Sandler Has Lowered Expectations for Omega Therapeutics (NASDAQ:OMGA) Stock Price

Omega Therapeutics (NASDAQ:OMGA) had its price target lowered by Piper Sandler from $9.00 to $4.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

OMGA has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research report on Wednesday, August 7th. Chardan Capital lowered their target price on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of Omega Therapeutics in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.20.

Omega Therapeutics Stock Performance

Shares of OMGA stock opened at $0.83 on Friday. Omega Therapeutics has a one year low of $0.77 and a one year high of $6.30. The company’s 50-day moving average is $1.18 and its 200 day moving average is $1.66. The company has a market capitalization of $45.69 million, a price-to-earnings ratio of -0.62 and a beta of 1.84. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.19 and a current ratio of 2.19.

Hedge Funds Weigh In On Omega Therapeutics

Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC grew its position in Omega Therapeutics by 78.2% during the second quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock valued at $65,000 after buying an additional 13,873 shares during the period. Ground Swell Capital LLC bought a new stake in shares of Omega Therapeutics during the 2nd quarter valued at $40,000. Green Alpha Advisors LLC bought a new stake in shares of Omega Therapeutics during the 3rd quarter valued at $76,000. XTX Topco Ltd purchased a new stake in shares of Omega Therapeutics in the 2nd quarter worth $174,000. Finally, Renaissance Technologies LLC bought a new position in Omega Therapeutics in the 2nd quarter worth $266,000. Institutional investors own 97.47% 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.