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

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

Several other equities analysts have also issued reports on OMGA. Chardan Capital decreased their price target on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $12.00 target price on shares of Omega Therapeutics in a research report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research note on Thursday, August 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $9.20.

Omega Therapeutics Stock Performance

OMGA stock opened at $1.01 on Friday. The company has a 50-day simple moving average of $1.19 and a 200 day simple moving average of $1.68. The company has a market capitalization of $55.70 million, a P/E ratio of -0.71 and a beta of 1.84. Omega Therapeutics has a fifty-two week low of $0.89 and a fifty-two week 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.

Hedge Funds Weigh In On Omega Therapeutics

Large investors have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in Omega Therapeutics during the second quarter worth about $460,000. Renaissance Technologies LLC purchased a new position in shares of Omega Therapeutics in the second quarter valued at approximately $266,000. XTX Topco Ltd acquired a new stake in shares of Omega Therapeutics in the second quarter valued at $174,000. Green Alpha Advisors LLC acquired a new position in shares of Omega Therapeutics during the third quarter worth about $76,000. Finally, Cubist Systematic Strategies LLC increased its position 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 purchasing an additional 13,873 shares during the last quarter. Institutional investors and hedge funds 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.