OMGA Stock Summary and Trading Ideas (Omega Therapeutics | NASDAQ:OMGA)

Omega Therapeutics Inc is a development-stage biotechnology company leveraging its proprietary epigenomic programming platform to biologically engineer a new class of programmable epigenetic medicines, known as Omega Epigenomic Controllers. Using epigenomic controllers, Omega is seeking to transform the practice of human medicine through selective and direct control of the human genome to treat and cure disease. It operates in the U.S.

Omega Therapeutics trades on the NASDAQ stock market under the symbol OMGA.

As of December 13, 2024, OMGA stock price declined to $0.97 with 320,806 million shares trading.

OMGA has a beta of 1.59, meaning it tends to be more sensitive to market movements. OMGA has a correlation of 0.03 to the broad based SPY ETF.

OMGA has a market cap of $53.65 million. This is considered a Micro Cap stock.

Last quarter Omega Therapeutics reported $3 million in Revenue and -$.30 earnings per share. This beat revenue expectation by $1 million and missed earnings estimates by -$.02.

In the last 3 years, OMGA traded as high as $15.79 and as low as $.75.

The top ETF exchange traded funds that OMGA belongs to (by Net Assets): VTI, VXF, IWC.

OMGA has underperformed the market in the last year with a return of -64.0%, while the SPY ETF gained +29.9%. In the last 3 month period, OMGA fell short of the market, returning -27.1%, while SPY returned +7.8%. However, in the most recent 2 weeks OMGA has outperformed the stock market by returning +9.7%, while SPY returned +0.3%.

OMGA support price is $.91 and resistance is $1.04 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that OMGA shares will trade within this expected range on the day.