Omega Therapeutics (NASDAQ:OMGA) Shares Down 21.8% – Here’s What Happened

Omega Therapeutics, Inc. (NASDAQ:OMGA) fell 21.8% during trading on Tuesday . The company traded as low as $0.14 and last traded at $0.13. 4,811,744 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 3,434,081 shares. The stock had previously closed at $0.16.

Omega Therapeutics Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.92 million, a PE ratio of -0.09 and a beta of 1.65. The stock’s 50 day moving average price is $0.12 and its two-hundred day moving average price is $0.30.

Hedge Funds Weigh In On Omega Therapeutics

An institutional investor recently bought a new position in Omega Therapeutics stock. Woodline Partners LP acquired a new position in shares of Omega Therapeutics, Inc. (NASDAQ:OMGA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 122,191 shares of the company’s stock, valued at approximately $91,000. Woodline Partners LP owned 0.22% of Omega Therapeutics as of its most recent SEC filing. Hedge funds and other institutional investors 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.