OmniAb (NASDAQ:OABI) Trading Up 5.3% – What’s Next?

OmniAb, Inc. (NASDAQ:OABI)’s stock price traded up 5.3% during mid-day trading on Thursday . The company traded as high as $4.51 and last traded at $4.4140. Approximately 585,975 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 694,747 shares. The stock had previously closed at $4.19.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings raised OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.00.

OmniAb Price Performance

The firm has a market cap of $626.91 million, a P/E ratio of -12.03 and a beta of 0.45. The business’s 50-day moving average is $2.52 and its two-hundred day moving average is $2.09.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. The firm had revenue of $13.41 million for the quarter, compared to analysts’ expectations of $4.69 million. Equities research analysts predict that OmniAb, Inc. will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OABI. 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 valued at $78,000 after purchasing an additional 7,624 shares in the last quarter. Rhumbline Advisers raised its stake in shares of OmniAb by 6.0% during the 2nd 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. raised its stake 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 purchasing an additional 9,716 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of OmniAb in the 1st quarter valued at approximately $25,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of OmniAb by 92.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after buying an additional 10,438 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.