Piper Sandler Cuts Omega Therapeutics (NASDAQ:OMGA) Price Target to $4.00

Omega Therapeutics (NASDAQ:OMGA) had its price target trimmed by Piper Sandler from $9.00 to $4.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research report on Thursday, August 15th. Chardan Capital reduced their price objective on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush reissued an “outperform” rating and set a $12.00 price objective on shares of Omega Therapeutics in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.20.

Omega Therapeutics Trading Down 18.0 %

NASDAQ:OMGA opened at $0.83 on Friday. The company has a fifty day moving average of $1.18 and a 200 day moving average of $1.66. Omega Therapeutics has a 52 week low of $0.77 and a 52 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. The firm has a market capitalization of $45.69 million, a P/E ratio of -0.62 and a beta of 1.84.

Institutional Trading of Omega Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Ground Swell Capital LLC purchased a new stake in shares of Omega Therapeutics in the 2nd quarter worth about $40,000. Cubist Systematic Strategies LLC grew 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 worth $65,000 after buying an additional 13,873 shares during the period. Green Alpha Advisors LLC purchased a new stake in shares of Omega Therapeutics in the 3rd quarter worth about $76,000. XTX Topco Ltd purchased a new stake in shares of Omega Therapeutics in the 2nd quarter worth about $174,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Omega Therapeutics in the 2nd quarter worth about $266,000. 97.47% of the stock is owned by hedge funds and other institutional investors.

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.