OmniAb, Inc. (NASDAQ:OABI – Get Free Report)’s share price was down 4.8% on Friday . The stock traded as low as $4.51 and last traded at $4.52. Approximately 459,025 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 774,287 shares. The stock had previously closed at $4.75.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on OABI. HC Wainwright reissued a “buy” rating and issued a $11.00 target price on shares of OmniAb in a research note on Monday, August 17th. Weiss Ratings upgraded OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.00.
Check Out Our Latest Analysis on OABI
OmniAb Stock Performance
OmniAb (NASDAQ:OABI – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 net margin of 115.12% and a negative return on equity of 16.59%. As a group, sell-side analysts anticipate that OmniAb, Inc. will post -0.35 EPS for the current fiscal year.
Institutional Trading of OmniAb
Institutional investors have recently added to or reduced their stakes in the business. Whitefort Capital Management LP bought a new position in shares of OmniAb during the 2nd quarter valued at $25,211,699. Rice Hall James & Associates LLC purchased a new stake in OmniAb during the second quarter valued at $6,422,000. BlackRock Inc. purchased a new stake in OmniAb during the second quarter valued at $21,888,000. ADAR1 Capital Management LLC bought a new position in OmniAb in the second quarter valued at about $2,331,000. Finally, Canada Pension Plan Investment Board bought a new position in OmniAb in the second quarter valued at about $37,000. 72.08% of the stock is currently owned by hedge funds and other 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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