Fmr LLC Lowers Stake in Omega Therapeutics, Inc. (NASDAQ:OMGA)

Fmr LLC lowered its stake in shares of Omega Therapeutics, Inc. (NASDAQ:OMGA) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,062,104 shares of the company’s stock after selling 179,912 shares during the period. Fmr LLC owned 0.11% of Omega Therapeutics worth $7,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its position in Omega Therapeutics by 78.2% in the second quarter. Cubist Systematic Strategies LLC now owns 31,617 shares of the company’s stock worth $65,000 after buying an additional 13,873 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Omega Therapeutics during the second quarter valued at about $266,000. XTX Topco Ltd purchased a new position in Omega Therapeutics in the second quarter worth $174,000. Ground Swell Capital LLC acquired a new stake in Omega Therapeutics in the second quarter worth about $40,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Omega Therapeutics in the second quarter worth $460,000. 97.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OMGA has been the topic of several research reports. Piper Sandler cut their price target on shares of Omega Therapeutics from $9.00 to $4.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Raymond James cut Omega Therapeutics from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Omega Therapeutics in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.20.

Omega Therapeutics Stock Performance

Shares of OMGA stock opened at $0.97 on Friday. Omega Therapeutics, Inc. has a 52 week low of $0.75 and a 52 week high of $6.30. The firm has a 50 day moving average of $1.02 and a two-hundred day moving average of $1.48. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $53.94 million, a PE ratio of -0.73 and a beta of 1.69.

Omega Therapeutics 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.