OmniAb’s (OABI) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of OmniAb (NASDAQ:OABI) in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $11.00 price target on the stock.

Several other equities analysts have also recently weighed in on OABI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $7.00 target price on shares of OmniAb in a research note on Friday, August 16th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of OmniAb in a research report on Monday, August 19th.

OmniAb Price Performance

Shares of NASDAQ:OABI traded down $0.19 during midday trading on Thursday, reaching $3.88. The company had a trading volume of 737,046 shares, compared to its average volume of 505,689. The stock’s fifty day moving average price is $4.19 and its 200-day moving average price is $4.28. The stock has a market capitalization of $458.46 million, a P/E ratio of -6.27 and a beta of -0.12. OmniAb has a one year low of $3.56 and a one year high of $6.72.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The company had revenue of $4.17 million for the quarter, compared to the consensus estimate of $8.87 million. As a group, sell-side analysts forecast that OmniAb will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OABI. Isthmus Partners LLC increased its holdings in OmniAb by 37.2% in the 2nd quarter. Isthmus Partners LLC now owns 528,385 shares of the company’s stock worth $1,981,000 after purchasing an additional 143,387 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of OmniAb by 6.4% in the third quarter. Rice Hall James & Associates LLC now owns 2,722,321 shares of the company’s stock valued at $11,515,000 after buying an additional 163,038 shares during the period. Sei Investments Co. increased its stake in shares of OmniAb by 11.0% in the second quarter. Sei Investments Co. now owns 29,024 shares of the company’s stock valued at $109,000 after buying an additional 2,888 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of OmniAb in the second quarter valued at about $147,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of OmniAb by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock valued at $11,296,000 after buying an additional 194,835 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.