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Omega Therapeutics, Inc. (OMGA) Moves 15.2% Higher: Will This Strength Last?
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Omega Therapeutics, Inc. (OMGA - Free Report) shares ended the last trading session 15.2% higher at $7.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 22.2% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive momentum built around the company's lead omega epigenomic controller, OTX-2002. Enrollment is currrently ongoing in a phase I/II study to evaluate OTX-2002 as a monotherapy and in combination with other therapies to treat hepatocellular carcinoma and other solid tumor types known for association with the c-Myc oncogene. Omega expects to share preliminary results from the phase I monotherapy dose escalation portion of the study in 2023.
This company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of -52.4%. Revenues are expected to be $0.7 million, up 159.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Omega Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on OMGA going forward to see if this recent jump can turn into more strength down the road.
Omega Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Ascendis Pharma A/S (ASND - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $109.69. ASND has returned -3.1% in the past month.
Ascendis Pharma A/S's consensus EPS estimate for the upcoming report has changed -2.8% over the past month to -$2.85. Compared to the company's year-ago EPS, this represents a change of -14.9%. Ascendis Pharma A/S currently boasts a Zacks Rank of #3 (Hold).
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Omega Therapeutics, Inc. (OMGA) Moves 15.2% Higher: Will This Strength Last?
Omega Therapeutics, Inc. (OMGA - Free Report) shares ended the last trading session 15.2% higher at $7.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 22.2% gain over the past four weeks.
The sudden soaring of the stock price can be attributed to the positive momentum built around the company's lead omega epigenomic controller, OTX-2002. Enrollment is currrently ongoing in a phase I/II study to evaluate OTX-2002 as a monotherapy and in combination with other therapies to treat hepatocellular carcinoma and other solid tumor types known for association with the c-Myc oncogene. Omega expects to share preliminary results from the phase I monotherapy dose escalation portion of the study in 2023.
This company is expected to post quarterly loss of $0.64 per share in its upcoming report, which represents a year-over-year change of -52.4%. Revenues are expected to be $0.7 million, up 159.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Omega Therapeutics, Inc., the consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on OMGA going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Omega Therapeutics, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Ascendis Pharma A/S (ASND - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $109.69. ASND has returned -3.1% in the past month.
Ascendis Pharma A/S's consensus EPS estimate for the upcoming report has changed -2.8% over the past month to -$2.85. Compared to the company's year-ago EPS, this represents a change of -14.9%. Ascendis Pharma A/S currently boasts a Zacks Rank of #3 (Hold).