OmniAb (NASDAQ:OABI) Stock Price Up 2.8% – Should You Buy?

OmniAb, Inc. (NASDAQ:OABI) was up 2.8% on Friday . The stock traded as high as $3.69 and last traded at $3.67. Approximately 58,374 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 502,255 shares. The stock had previously closed at $3.57.

Analysts Set New Price Targets

OABI has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of OmniAb in a research report on Thursday, November 14th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a research report on Thursday, November 14th.

OmniAb Price Performance

The firm has a market cap of $497.08 million, a PE ratio of -5.68 and a beta of -0.14. The stock has a 50-day moving average price of $3.96 and a 200 day moving average price of $4.14.

Institutional Investors Weigh In On OmniAb

A number of institutional investors have recently bought and sold shares of OABI. Barclays PLC boosted its holdings in shares of OmniAb by 321.5% in the 3rd quarter. Barclays PLC now owns 143,215 shares of the company’s stock valued at $606,000 after purchasing an additional 109,236 shares during the last quarter. State Street Corp grew its position in OmniAb by 1.7% during the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after acquiring an additional 34,654 shares during the period. Murchinson Ltd. acquired a new stake in OmniAb during the third quarter worth about $4,230,000. PDT Partners LLC purchased a new position in shares of OmniAb in the 3rd quarter worth about $123,000. Finally, Walleye Capital LLC acquired a new position in shares of OmniAb in the 3rd quarter valued at about $61,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

About OmniAb

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.