Ground Swell Capital LLC bought a new position in Omega Therapeutics, Inc. (NASDAQ:OMGA – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 19,170 shares of the company’s stock, valued at approximately $40,000.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on OMGA. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a research report on Thursday, August 15th. Wedbush reissued an “outperform” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research 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 for the company in a report on Wednesday, August 7th. Finally, Raymond James initiated coverage on shares of Omega Therapeutics in a research note on Tuesday, June 18th. They issued an “outperform” rating and a $12.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $10.20.
View Our Latest Stock Analysis on OMGA
Omega Therapeutics Price Performance
Omega Therapeutics (NASDAQ:OMGA – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. The business had revenue of $2.13 million for the quarter, compared to the consensus estimate of $1.25 million. Omega Therapeutics had a negative return on equity of 156.48% and a negative net margin of 1,249.54%. Equities analysts predict that Omega Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.
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.
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