Omega Therapeutics (NASDAQ:OMGA) Cut to Market Perform at Raymond James

Omega Therapeutics (NASDAQ:OMGA) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports.

A number of other brokerages have also recently issued reports on OMGA. Wedbush reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research note on Wednesday, August 7th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Omega Therapeutics in a research report on Thursday, August 15th. Chardan Capital decreased their price objective on Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Piper Sandler dropped their target price on Omega Therapeutics from $9.00 to $4.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.20.

Omega Therapeutics Stock Performance

Shares of NASDAQ OMGA opened at $1.01 on Friday. The stock’s 50-day moving average is $1.19 and its 200 day moving average is $1.68. The stock has a market cap of $55.70 million, a price-to-earnings ratio of -0.71 and a beta of 1.84. Omega Therapeutics has a 1-year low of $0.89 and a 1-year high of $6.30. 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in Omega Therapeutics during the 2nd quarter valued at approximately $460,000. Renaissance Technologies LLC bought a new stake in shares of Omega Therapeutics during the second quarter valued at approximately $266,000. XTX Topco Ltd purchased a new stake in Omega Therapeutics in the second quarter worth $174,000. Green Alpha Advisors LLC bought a new position in Omega Therapeutics in the third quarter worth $76,000. Finally, Ground Swell Capital LLC purchased a new position in Omega Therapeutics during the second quarter valued at $40,000. 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.