Omega Therapeutics (NASDAQ:OMGA) Releases Earnings Results

Omega Therapeutics (NASDAQ:OMGA) issued its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06, Zacks reports. The business had revenue of $2.13 million during the quarter, compared to the consensus estimate of $1.25 million. Omega Therapeutics had a negative net margin of 1,868.35% and a negative return on equity of 136.04%.

Omega Therapeutics Price Performance

OMGA stock traded down $0.02 during trading on Friday, reaching $1.53. 40,964 shares of the company were exchanged, compared to its average volume of 1,148,017. The company has a market cap of $84.39 million, a P/E ratio of -0.93 and a beta of 1.90. Omega Therapeutics has a 52-week low of $1.30 and a 52-week high of $6.30. The stock’s 50 day moving average price is $1.97 and its 200 day moving average price is $2.75. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.87 and a current ratio of 2.87.

Wall Street Analysts Forecast Growth

OMGA has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research report on Monday, May 13th. Chardan Capital cut their target price on shares of Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Raymond James assumed coverage on shares of Omega Therapeutics in a research report on Tuesday, June 18th. They set an “outperform” rating and a $12.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 price target on shares of Omega Therapeutics in a research note on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $10.20.

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.