Q3 2024 EPS Estimates for Omega Therapeutics, Inc. Raised by Analyst (NASDAQ:OMGA)

Omega Therapeutics, Inc. (NASDAQ:OMGA) – Research analysts at HC Wainwright lifted their Q3 2024 earnings per share (EPS) estimates for Omega Therapeutics in a report issued on Monday, May 13th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings per share of ($0.33) for the quarter, up from their previous forecast of ($0.34). HC Wainwright currently has a “Buy” rating and a $12.00 target price on the stock. The consensus estimate for Omega Therapeutics’ current full-year earnings is ($1.30) per share. HC Wainwright also issued estimates for Omega Therapeutics’ FY2024 earnings at ($1.37) EPS, Q1 2025 earnings at ($0.31) EPS and Q2 2025 earnings at ($0.31) EPS.

Omega Therapeutics (NASDAQ:OMGA) last released its quarterly earnings results on Thursday, March 28th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.09. Omega Therapeutics had a negative return on equity of 136.04% and a negative net margin of 1,868.35%. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $0.93 million.

A number of other research analysts have also issued reports on OMGA. Chardan Capital reiterated a “buy” rating and issued a $7.00 target price on shares of Omega Therapeutics in a report on Tuesday, May 7th. Wedbush reiterated an “outperform” rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Monday, May 6th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $9.00 target price (down from $10.00) on shares of Omega Therapeutics in a report on Wednesday, April 3rd.

Omega Therapeutics Trading Down 3.4 %

OMGA opened at $2.28 on Wednesday. Omega Therapeutics has a 52 week low of $1.30 and a 52 week high of $10.09. The business has a fifty day simple moving average of $2.96 and a 200-day simple moving average of $3.01. The firm has a market cap of $125.74 million, a P/E ratio of -1.37 and a beta of 1.99. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.34.

Institutional Trading of Omega Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Etfidea LLC purchased a new position in shares of Omega Therapeutics during the fourth quarter worth about $39,000. Murphy Pohlad Asset Management LLC purchased a new position in shares of Omega Therapeutics during the fourth quarter worth about $50,000. Finally, 683 Capital Management LLC grew its holdings in shares of Omega Therapeutics by 7.0% during the third quarter. 683 Capital Management LLC now owns 508,242 shares of the company’s stock worth $1,093,000 after buying an additional 33,242 shares during the last quarter. Institutional investors and hedge funds own 97.47% of the company’s stock.

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.