OmniAb, Inc. (NASDAQ:OABI – Get Free Report) hit a new 52-week high on Monday. The company traded as high as $5.45 and last traded at $5.36, with a volume of 739,619 shares changing hands. The stock had previously closed at $5.03.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on OABI. Weiss Ratings raised OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Leerink Partners raised their price objective on OmniAb from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a report on Monday, August 17th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.50.
Get Our Latest Research Report on OABI
OmniAb Stock Up 3.8%
The stock has a market capitalization of $755.77 million, a P/E ratio of -15.35 and a beta of 0.60. The business has a fifty day moving average price of $4.70 and a 200-day moving average price of $2.79.
OmniAb (NASDAQ:OABI – Get Free Report) last issued its earnings results on Friday, October 30th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $3.99 million during the quarter, compared to analyst estimates of $3.49 million. OmniAb had a negative return on equity of 16.74% and a negative net margin of 108.11%. On average, equities analysts expect that OmniAb, Inc. will post -0.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On OmniAb
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in OmniAb in the 2nd quarter worth approximately $21,888,000. Whitefort Capital Management LP purchased a new position in shares of OmniAb in the 2nd quarter worth $25,211,699. Rice Hall James & Associates LLC purchased a new position in shares of OmniAb in the 2nd quarter worth $6,422,000. ADAR1 Capital Management LLC bought a new stake in shares of OmniAb in the second quarter worth $2,331,000. Finally, Bank of New York Mellon Corp purchased a new stake in OmniAb during the second quarter valued at $783,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.
OmniAb Company Profile
OmniAb, Inc is a biotechnology company that develops and licenses antibody discovery technologies for use in drug research and development. Its platform is designed to help biopharmaceutical companies generate fully human and species-diverse antibodies that can be evaluated as potential treatments for a range of diseases.
The company’s technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniMouse and OmniChicken, which are used to produce antibody candidates against challenging biological targets.
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