Omega rises as H.C. Wainwright initiates with Buy citing potential in epigenetics
Omega Therapeutics (NASDAQ:OMGA) recovered from four days of consecutive declines on Thursday after H.C. Wainwright launched its coverage with a Buy recommendation noting that the clinical-stage biotech is a pioneer in epigenetic medicines.
Omega's (OMGA) epigenomic programming platform leverages epigenetics, which controls gene expression and regulates an organism's life from cell genesis, growth, and differentiation to cell death.
While classified as mRNA molecules, the company's therapeutic candidates are "modularly designed to regulate gene expression to address hitherto undruggable targets," the analyst Robert Burns wrote, with a 12-month target of $11 on the stock.
Additionally, the analyst notes that the company uses artificial intelligence and machine learning to speed up drug development, with its lead candidate OTX-2002 reaching the clinical from the initial validation in 27 months compared to the typical 3–4-year timeline.