Fidelity Management & Research Co recently announced the acquisition of new stake in Omega Therapeutics Inc. (NASDAQ:OMGA). The institutional investor has increased its shareholding in the Healthcare company by 4.98% to 4.6 million shares with purchase of 0.22 million shares. This fresh investment now brings its stake to 9.58% valued currently at $26.29 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.24 million to 0.99 million shares. And BlackRock Fund Advisors has lifted its position by 39.47% or 99953.0 shares – to 0.35 million shares.
With over 0.38 million Omega Therapeutics Inc. (OMGA) shares trading Friday and a closing price of $8.65 on the day, the dollar volume was approximately $3.32 million. The shares have shown a positive half year performance of 100.70% and its price on 01/13/23 lost nearly -21.00%. Currently, there are 47.85M common shares owned by the public and among those 46.28M shares have been available to trade.
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Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 11,300 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 10,000 shares.
The top 3 mutual fund holders in Omega Therapeutics Inc. are Fidelity Growth Company Fund, Fidelity Select Port. – Biotechno, and Vanguard Total Stock Market Index. Fidelity Growth Company Fund owns 1.27 million shares of the company’s stock, all valued at over $7.26 million. The company sold 30314.0 shares recently to bring their total holdings to about 2.65% of the shares outstanding. Vanguard Total Stock Market Index now owns shares totaling to 1.25% of the shares outstanding.
Shares of Omega Therapeutics Inc. (NASDAQ: OMGA) opened at $11.01, up $0.06 from a prior closing price of $10.95. However, the script later moved the day high at 11.02, down -21.00%. The company’s stock has a 5-day price change of 18.66% and 89.69% over the past three months. OMGA shares are trading 51.49% year to date (YTD), with the 12-month market performance down to -14.36% lower. It has a 12-month low price of $1.98 and touched a high of $14.31 over the same period. OMGA has an average intraday trading volume of 41.28K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 35.54%, 39.23%, and 74.84% respectively.
Institutional ownership of Omega Therapeutics Inc. (NASDAQ: OMGA) shares accounts for 88.80% of the company’s 47.85M shares outstanding. Mutual fund holders own 19.59%, while other institutional holders and individual stakeholders account for 9.68% and 1.89% respectively.
It has a market capitalization of $526.09M. The earnings-per-share (ttm) stands at -$1.94. Price movements for the stock have been influenced by the stock’s volatility, which stands at 25.04% over the week and 14.50% over the month.
Analysts forecast that Omega Therapeutics Inc. (OMGA) will achieve an EPS of -$0.62 for the current quarter, -$0.67 for the next quarter and -$2.84 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.7 while analysts give the company a high EPS estimate of -$0.56. Comparatively, EPS for the current quarter was -$0.57 a year ago. Earnings per share for the fiscal year are expected to decrease by -383.60%, and -27.20% over the next financial year.
Looking at the support for the OMGA, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on December 08, 2022, with the firm’s price target at $11. Chardan Capital Markets coverage for the Omega Therapeutics Inc. (OMGA) stock in a research note released on September 23, 2022 offered a Buy rating with a price target of $12.
