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

Omega Therapeutics (NASDAQ:OMGA) had its price target dropped by equities researchers at Piper Sandler from $9.00 to $4.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 382.86% from the stock’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research report on Thursday, August 15th. Chardan Capital lowered their price target 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, Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Omega Therapeutics in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Omega Therapeutics Price Performance

Shares of OMGA stock opened at $0.83 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.19 and a current ratio of 2.19. Omega Therapeutics has a one year low of $0.77 and a one year high of $6.30. The company’s fifty day moving average price is $1.18 and its 200-day moving average price is $1.67.

Hedge Funds Weigh In On Omega Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Omega Therapeutics in the 2nd quarter worth approximately $460,000. Renaissance Technologies LLC bought a new stake in Omega Therapeutics in the second quarter worth $266,000. XTX Topco Ltd bought a new stake in Omega Therapeutics in the second quarter worth $174,000. Green Alpha Advisors LLC purchased a new stake in Omega Therapeutics during the third quarter valued at $76,000. Finally, Ground Swell Capital LLC bought a new position in Omega Therapeutics during the second quarter valued at $40,000. 97.47% of the stock is owned by institutional investors.

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.