OmniAb (NASDAQ:OABI) Sees Strong Trading Volume – What’s Next?
by Amy Steele · The Cerbat GemOmniAb, Inc. (NASDAQ:OABI – Get Free Report) shares saw an uptick in trading volume on Wednesday. 2,528,665 shares were traded during trading, an increase of 194% from the previous session’s volume of 861,331 shares. The stock last traded at $4.8250 and had previously closed at $4.96.
Analyst Ratings Changes
Several brokerages have issued reports on OABI. Leerink Partners lifted their price objective on OmniAb from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Monday, August 17th. Finally, Weiss Ratings raised shares of OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.50.
Get Our Latest Stock Report on OmniAb
OmniAb Stock Down 2.7%
The stock has a market cap of $698.56 million, a price-to-earnings ratio of -13.40 and a beta of 0.60. The stock’s fifty day moving average is $4.48 and its 200-day moving average is $2.94.
OmniAb (NASDAQ:OABI – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping 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 company had revenue of $13.41 million for the quarter, compared to analyst estimates of $4.69 million. As a group, equities research analysts predict that OmniAb, Inc. will post -0.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On OmniAb
Several large investors have recently modified their holdings of OABI. State Street Corp raised its position in shares of OmniAb by 3.2% during the second quarter. State Street Corp now owns 2,133,549 shares of the company’s stock worth $5,249,000 after purchasing an additional 66,406 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of OmniAb by 252.4% during the 2nd quarter. Squarepoint Ops LLC now owns 35,357 shares of the company’s stock valued at $87,000 after purchasing an additional 25,325 shares in the last quarter. Two Sigma Securities LLC bought a new stake in OmniAb during the 2nd quarter worth approximately $39,000. Bank of America Corp DE bought a new stake in OmniAb during the 2nd quarter worth approximately $368,000. Finally, ADAR1 Capital Management LLC acquired a new stake in OmniAb during the 2nd quarter worth approximately $2,331,000. 72.08% of the stock is currently owned by institutional investors.
OmniAb Company Profile
OmniAb, Inc is a biotechnology company that develops antibody discovery technologies for pharmaceutical and biotechnology companies. Its platform is designed to help partners identify fully human and humanized monoclonal antibodies and other antibody-based therapeutics for potential use in treating diseases.
The company’s technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniFlic and OmniChicken, which are designed to generate diverse antibody repertoires.