Omega Therapeutics (NASDAQ:OMGA) Announces Quarterly Earnings Results

Omega Therapeutics (NASDAQ:OMGA) posted its earnings results on Tuesday. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.06, Zacks reports. The firm had revenue of $2.13 million during the quarter, compared to the consensus estimate of $1.25 million. Omega Therapeutics had a negative return on equity of 136.04% and a negative net margin of 1,868.35%.

Omega Therapeutics Stock Performance

Shares of NASDAQ OMGA traded down $0.02 during midday trading on Friday, hitting $1.53. 40,964 shares of the stock traded hands, compared to its average volume of 1,148,017. The firm has a 50-day moving average of $1.97 and a two-hundred day moving average of $2.75. The firm has a market capitalization of $84.39 million, a P/E ratio of -0.93 and a beta of 1.90. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.87 and a current ratio of 2.87. Omega Therapeutics has a one year low of $1.30 and a one year high of $6.30.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OMGA. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a research report on Monday, May 13th. Wedbush reiterated an “outperform” rating and set a $12.00 target price on shares of Omega Therapeutics in a report on Wednesday. Chardan Capital reduced their target price on Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Raymond James assumed coverage on Omega Therapeutics in a report on Tuesday, June 18th. They set an “outperform” rating and a $12.00 target price on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Omega Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $10.20.

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.