OmniAb, Inc. (NASDAQ:OABI – Get Free Report) shares were up 8.5% during mid-day trading on Monday . The company traded as high as $4.37 and last traded at $4.4140. Approximately 474,574 shares changed hands during mid-day trading, a decline of 40% from the average session volume of 791,662 shares. The stock had previously closed at $4.07.
Analyst Ratings Changes
Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of OmniAb in a research note on Monday, August 17th. Weiss Ratings raised shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.00.
Read Our Latest Research Report on OABI
OmniAb Stock Performance
OmniAb (NASDAQ:OABI – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $13.41 million during the quarter, compared to analysts’ expectations of $4.69 million. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. As a group, equities research analysts predict that OmniAb, Inc. will post -0.35 earnings per share for the current year.
Hedge Funds Weigh In On OmniAb
Large investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in OmniAb in the second quarter worth approximately $28,000. State of Wyoming lifted its stake in OmniAb by 101.7% in the first quarter. State of Wyoming now owns 24,694 shares of the company’s stock valued at $39,000 after acquiring an additional 12,451 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in OmniAb in the second quarter valued at approximately $37,000. Two Sigma Securities LLC bought a new stake in OmniAb in the second quarter worth approximately $39,000. Finally, Sei Investments Co. grew its position in OmniAb by 41.3% in the first quarter. Sei Investments Co. now owns 60,578 shares of the company’s stock worth $95,000 after acquiring an additional 17,718 shares in the last quarter. Institutional investors own 72.08% of the company’s stock.
About OmniAb
OmniAb, Inc is a biotechnology company that develops and provides antibody discovery technologies for pharmaceutical and biotechnology companies. Its platform is designed to help partners identify fully human and humanized antibodies that can be developed into therapeutics for a range of diseases.
The company’s technologies include genetically engineered animals and related screening and selection systems, including its OmniRat, OmniMouse, OmniChicken and OmniFlic platforms. These tools are intended to generate diverse antibody candidates and support the discovery of antibodies with desired binding and functional characteristics.
OmniAb primarily serves biopharmaceutical partners through collaborations, licensing arrangements and other commercial relationships.
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