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

HC Wainwright reaffirmed their buy rating on shares of OmniAb (NASDAQ:OABI) in a report issued on Monday morning,Benzinga reports. The firm currently has a $11.00 price target on the stock.

Separately, Weiss Ratings downgraded OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, OmniAb currently has an average rating of “Hold” and an average price target of $11.00.

OmniAb Stock Up 6.9%

Shares of OABI stock opened at $4.19 on Monday. The firm has a fifty day moving average of $2.44 and a 200-day moving average of $2.06. OmniAb has a 12-month low of $1.30 and a 12-month high of $4.29. The company has a market capitalization of $606.63 million, a price-to-earnings ratio of -11.64 and a beta of 0.45.

OmniAb (NASDAQ:OABI) last announced its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $13.41 million for the quarter, compared to analyst estimates of $4.69 million. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%. On average, equities analysts expect that OmniAb will post -0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in shares of OmniAb by 20.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,809 shares of the company’s stock valued at $78,000 after purchasing an additional 7,624 shares during the last quarter. Rhumbline Advisers lifted its position in shares of OmniAb by 6.0% during the 2nd quarter. Rhumbline Advisers now owns 160,728 shares of the company’s stock worth $280,000 after buying an additional 9,163 shares during the last quarter. Osaic Holdings Inc. boosted its stake in OmniAb by 214.4% in the second quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock valued at $25,000 after buying an additional 9,716 shares in the last quarter. AQR Capital Management LLC acquired a new stake in OmniAb in the first quarter valued at about $25,000. Finally, BNP Paribas Financial Markets grew its position in OmniAb by 92.5% in the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after acquiring an additional 10,438 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

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.