Cubist Systematic Strategies LLC Grows Holdings in Omega Therapeutics, Inc. (NASDAQ:OMGA)

Cubist Systematic Strategies LLC grew its holdings in shares of Omega Therapeutics, Inc. (NASDAQ:OMGA) by 78.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,617 shares of the company’s stock after buying an additional 13,873 shares during the quarter. Cubist Systematic Strategies LLC owned 0.06% of Omega Therapeutics worth $65,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in OMGA. Ground Swell Capital LLC purchased a new position in shares of Omega Therapeutics during the 2nd quarter valued at approximately $40,000. Renaissance Technologies LLC purchased a new position in shares of Omega Therapeutics during the 2nd quarter valued at approximately $266,000. XTX Topco Ltd acquired a new stake in shares of Omega Therapeutics during the 2nd quarter valued at approximately $174,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Omega Therapeutics during the 2nd quarter valued at approximately $460,000. 97.47% of the stock is currently owned by hedge funds and other institutional investors.

Omega Therapeutics Price Performance

Shares of NASDAQ OMGA opened at $0.90 on Thursday. Omega Therapeutics, Inc. has a 1-year low of $0.89 and a 1-year high of $6.30. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.19 and a quick ratio of 2.19. The business’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.89. The firm has a market capitalization of $49.90 million, a PE ratio of -0.54 and a beta of 1.84.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on OMGA shares. Chardan Capital dropped 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. Wedbush reissued an “outperform” rating and set a $12.00 price target on shares of Omega Therapeutics in a research report on Wednesday, August 7th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Omega Therapeutics in a research report on Thursday, August 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Omega Therapeutics currently has an average 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.