Shares of OmniAb, Inc. (NASDAQ:OABI – Get Free Report) fell 5.1% during trading on Thursday . The company traded as low as $4.59 and last traded at $4.5650. Approximately 416,837 shares were traded during mid-day trading, a decline of 43% from the average session volume of 729,427 shares. The stock had previously closed at $4.81.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Weiss Ratings upgraded OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of OmniAb in a report on Monday, August 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.
View Our Latest Stock Report on OABI
OmniAb Stock Performance
OmniAb (NASDAQ:OABI – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.41 million for the quarter, compared to analyst estimates of $4.69 million. On average, analysts expect that OmniAb, Inc. will post -0.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On OmniAb
A number of hedge funds have recently added to or reduced their stakes in OABI. AQR Capital Management LLC acquired a new position in OmniAb in the first quarter valued at approximately $25,000. Legal & General Group Plc acquired a new stake in OmniAb in the second quarter worth $28,000. Osaic Holdings Inc. raised its holdings in shares of OmniAb by 214.4% during the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after purchasing an additional 9,716 shares during the period. Canada Pension Plan Investment Board bought a new stake in OmniAb in the 2nd quarter valued at about $37,000. Finally, Two Sigma Securities LLC acquired a new position in OmniAb during the 2nd quarter worth approximately $39,000. 72.08% of the stock is currently owned by institutional investors.
About OmniAb
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.
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