Omega Therapeutics (NASDAQ:OMGA) Stock Price Down 9.6%

Omega Therapeutics Inc (NASDAQ:OMGA)’s share price was down 9.6% during mid-day trading on Tuesday . The stock traded as low as $17.28 and last traded at $17.28. Approximately 249 shares were traded during trading, a decline of 100% from the average daily volume of 101,987 shares. The stock had previously closed at $19.11.

Several equities research analysts have recently issued reports on OMGA shares. Jefferies Financial Group started coverage on Omega Therapeutics in a research report on Tuesday, August 24th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research lowered Omega Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, November 13th. The Goldman Sachs Group started coverage on Omega Therapeutics in a research report on Tuesday, August 24th. They set a “neutral” rating and a $22.00 target price for the company. Wedbush started coverage on Omega Therapeutics in a research report on Tuesday, August 24th. They set an “outperform” rating and a $36.00 target price for the company. Finally, Piper Sandler started coverage on Omega Therapeutics in a research report on Tuesday, August 24th. They set an “overweight” rating and a $30.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Omega Therapeutics presently has a consensus rating of “Buy” and an average price target of $28.20.

The company has a quick ratio of 10.62, a current ratio of 16.69 and a debt-to-equity ratio of 0.03. The company has a 50 day simple moving average of $21.19.

Omega Therapeutics (NASDAQ:OMGA) last posted its quarterly earnings results on Wednesday, November 10th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.09). On average, equities analysts expect that Omega Therapeutics Inc will post -2.65 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. HarbourVest Partners LLC bought a new position in shares of Omega Therapeutics during the 3rd quarter worth $49,897,000. Artal Group S.A. bought a new position in Omega Therapeutics in the 3rd quarter worth about $42,856,000. CHI Advisors LLC bought a new position in Omega Therapeutics in the 3rd quarter worth about $19,904,000. BlackRock Inc. bought a new position in Omega Therapeutics in the 3rd quarter worth about $18,061,000. Finally, Sphera Funds Management LTD. bought a new position in Omega Therapeutics in the 3rd quarter worth about $9,952,000. Institutional investors own 54.25% of the company’s stock.

Omega Therapeutics Company Profile (NASDAQ:OMGA)

Omega Therapeutics Inc is a development-stage biotechnology company. Its OMEGA Epigenomic Programming(TM) platform harness the power of epigenetics to develop a new class of DNA-sequence-targeting, mRNA-encoded programmable epigenetic medicines. Omega Therapeutics Inc is based in CAMBRIDGE, Mass.

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