Renaissance Technologies LLC Invests $266,000 in Omega Therapeutics, Inc. (NASDAQ:OMGA)

Renaissance Technologies LLC purchased a new stake in Omega Therapeutics, Inc. (NASDAQ:OMGA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 128,400 shares of the company’s stock, valued at approximately $266,000. Renaissance Technologies LLC owned 0.23% of Omega Therapeutics as of its most recent SEC filing.

Separately, Ground Swell Capital LLC bought a new stake in Omega Therapeutics during the 2nd quarter valued at $40,000. 97.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on OMGA shares. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Omega Therapeutics in a report on Thursday, August 15th. Raymond James started coverage on Omega Therapeutics in a research note on Tuesday, June 18th. They issued an “outperform” rating and a $12.00 target price for the company. Chardan Capital decreased their price target on Omega Therapeutics from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Wedbush restated an “outperform” rating and issued a $12.00 price objective on shares of Omega Therapeutics in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.20.

Omega Therapeutics Price Performance

Omega Therapeutics stock opened at $0.96 on Friday. The stock has a market cap of $52.95 million, a price-to-earnings ratio of -0.57 and a beta of 1.84. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $1.36 and a 200 day simple moving average of $1.96. Omega Therapeutics, Inc. has a 52 week low of $0.94 and a 52 week high of $6.30.

Omega Therapeutics (NASDAQ:OMGA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.06. The company had revenue of $2.13 million during the quarter, compared to analyst estimates of $1.25 million. Omega Therapeutics had a negative return on equity of 156.48% and a negative net margin of 1,249.54%. On average, research analysts forecast that Omega Therapeutics, Inc. will post -1.23 earnings per share for the current fiscal year.

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.