Omega Therapeutics (NASDAQ:OMGA) Price Target Cut to $4.00 by Analysts at Piper Sandler

Omega Therapeutics (NASDAQ:OMGA) had its price objective reduced by stock analysts at Piper Sandler from $9.00 to $4.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 296.04% from the company’s previous close.

A number of other research firms also recently commented on OMGA. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Omega Therapeutics in a report on Thursday, August 15th. Chardan Capital dropped their price target on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 target price on shares of Omega Therapeutics in a research note on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Omega Therapeutics currently has a consensus rating of “Buy” and an average target price of $9.20.

Omega Therapeutics Price Performance

Shares of OMGA stock opened at $1.01 on Friday. The firm has a fifty day simple moving average of $1.19 and a 200-day simple moving average of $1.68. Omega Therapeutics has a twelve month low of $0.89 and a twelve month high of $6.30. The company has a market capitalization of $55.70 million, a PE ratio of -0.71 and a beta of 1.84. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.49.

Institutional Trading of Omega Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ground Swell Capital LLC bought a new position in Omega Therapeutics in the second quarter worth approximately $40,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Omega Therapeutics by 78.2% in the 2nd 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 in the last quarter. Green Alpha Advisors LLC acquired a new stake in Omega Therapeutics during the 3rd quarter worth about $76,000. XTX Topco Ltd purchased a new stake in shares of Omega Therapeutics during the 2nd quarter worth about $174,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Omega Therapeutics in the second quarter valued at approximately $266,000. 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.