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Omega Therapeutics, Inc. Reports Q1 Loss, Tops Revenue Estimates


Omega Therapeutics, Inc. (NASDAQ: OMGA) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.38. This compares to loss of $0.50 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 5.26%. A quarter ago, it was expected that this company would post a loss of $0.46 per share when it actually produced a loss of $0.37, delivering a surprise of 19.57%.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

Omega Therapeutics, which belongs to the Zacks Medical – Biomedical and Genetics industry, posted revenues of $2.36 million for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 155.14%. This compares to year-ago revenues of $0.52 million. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.

Omega …

Full story available on Benzinga.com

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