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

Omega Therapeutics (NASDAQ:OMGA) had its price objective reduced by stock analysts at 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 would suggest a potential upside of 382.86% from the stock’s current price.

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

Omega Therapeutics Stock Performance

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

Institutional Investors Weigh In On Omega Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Ground Swell Capital LLC purchased a new position in shares of Omega Therapeutics during the second quarter worth approximately $40,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Omega Therapeutics by 78.2% in the second 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 period. Green Alpha Advisors LLC bought a new position in Omega Therapeutics in the third quarter worth approximately $76,000. XTX Topco Ltd purchased a new position in Omega Therapeutics during the 2nd quarter worth $174,000. Finally, Renaissance Technologies LLC bought a new stake in Omega Therapeutics during the 2nd quarter valued at $266,000. 97.47% of the stock is owned by hedge funds and other 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.