OmniAb (NASDAQ:OABI) Trading Down 2.8%

OmniAb, Inc. (NASDAQ:OABI) dropped 2.8% during mid-day trading on Tuesday . The company traded as low as $5.13 and last traded at $5.16. Approximately 53,231 shares were traded during trading, a decline of 88% from the average daily volume of 428,155 shares. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

OABI has been the subject of a number of analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of OmniAb in a report on Thursday, March 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a report on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of OmniAb in a report on Friday, March 22nd. Finally, Truist Financial reiterated a “buy” rating and issued a $10.00 price target on shares of OmniAb in a report on Tuesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $9.20.

OmniAb Stock Up 3.9 %

The stock has a market cap of $626.53 million, a price-to-earnings ratio of -10.57 and a beta of -0.16. The business’s 50 day simple moving average is $5.63 and its 200 day simple moving average is $5.33.

Insider Transactions at OmniAb

In related news, CEO Matthew W. Foehr bought 225,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of $5.19 per share, for a total transaction of $1,167,750.00. Following the purchase, the chief executive officer now owns 2,908,803 shares in the company, valued at approximately $15,096,687.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of OmniAb

Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in OmniAb in the 4th quarter worth about $38,000. Stephens Inc. AR bought a new position in OmniAb in the 1st quarter valued at about $32,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in OmniAb in the 2nd quarter valued at about $50,000. Stifel Financial Corp bought a new stake in shares of OmniAb during the 1st quarter valued at approximately $37,000. Finally, Financial Advocates Investment Management bought a new stake in shares of OmniAb during the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 72.08% of the company’s stock.

About OmniAb

OmniAb, Inc, a biotechnology company, engages in the provision of therapeutic antibody discovery technologies in the United States. The company's discovery platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates.