OmniAb (NASDAQ:OABI) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

OmniAb (NASDAQ:OABI) released its quarterly earnings data on Tuesday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01, Zacks reports. OmniAb had a negative return on equity of 22.79% and a negative net margin of 275.83%. OmniAb updated its FY 2025 guidance to EPS.

OmniAb Price Performance

Shares of OABI remained flat at $1.48 during trading hours on Tuesday. 366,304 shares of the stock were exchanged, compared to its average volume of 536,477. The firm has a 50 day moving average price of $1.61 and a two-hundred day moving average price of $1.70. The stock has a market cap of $213.06 million, a P/E ratio of -2.47 and a beta of 0.15. OmniAb has a 52-week low of $1.22 and a 52-week high of $4.87.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of OmniAb in a research note on Tuesday, October 14th. Royal Bank Of Canada reduced their price target on OmniAb from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, OmniAb has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Hedge Funds Weigh In On OmniAb

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in OmniAb by 20.5% in the second quarter. The Manufacturers Life Insurance Company now owns 44,809 shares of the company’s stock worth $78,000 after purchasing an additional 7,624 shares in the last quarter. Rhumbline Advisers grew its stake in OmniAb by 6.0% in the second quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock worth $280,000 after purchasing an additional 9,163 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of OmniAb by 214.4% during the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after buying an additional 9,716 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of OmniAb during the 1st quarter worth $25,000. Finally, Cerity Partners LLC grew its position in shares of OmniAb by 111.5% during the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock worth $39,000 after buying an additional 11,919 shares in the last quarter. 72.08% of the stock is owned by institutional investors.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.