Piper Sandler Issues Pessimistic Forecast for Omega Therapeutics (NASDAQ:OMGA) Stock Price

Omega Therapeutics (NASDAQ:OMGA - Free Report) had its price target reduced by Piper Sandler from $9.00 to $4.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. Wedbush restated an "outperform" rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Wednesday, August 7th. Chardan Capital dropped their price objective on 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 reaffirmed a "buy" rating and set a $12.00 target price on shares of Omega Therapeutics in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.20.

Omega Therapeutics Trading Down 19.7 %

Omega Therapeutics stock traded down $0.20 during mid-day trading on Friday, hitting $0.81. 1,087,164 shares of the stock were exchanged, compared to its average volume of 870,599. The stock has a market capitalization of $44.74 million, a price-to-earnings ratio of -0.59 and a beta of 1.84. Omega Therapeutics has a 12 month low of $0.77 and a 12 month high of $6.30. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The firm's fifty day simple moving average is $1.18 and its two-hundred day simple moving average is $1.68.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC grew its stake in Omega Therapeutics by 78.2% in the second quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company's stock valued at $65,000 after acquiring an additional 13,873 shares during the period. Renaissance Technologies LLC acquired a new stake in Omega Therapeutics in the 2nd quarter valued at $266,000. XTX Topco Ltd bought a new stake in Omega Therapeutics during the 2nd quarter valued at $174,000. Ground Swell Capital LLC bought a new position in shares of Omega Therapeutics in the second quarter valued at $40,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Omega Therapeutics during the second quarter valued at about $460,000. 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.