FY2030 Earnings Estimate for OmniAb Issued By HC Wainwright

OmniAb, Inc. (NASDAQ:OABI) – Equities research analysts at HC Wainwright upped their FY2030 earnings per share estimates for OmniAb in a research note issued on Friday, October 30th. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings per share of $0.07 for the year, up from their previous forecast of $0.05. HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for OmniAb’s current full-year earnings is ($0.35) per share.

OmniAb (NASDAQ:OABI) last announced its quarterly earnings results on Friday, October 30th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $3.99 million during the quarter, compared to analysts’ expectations of $3.49 million. OmniAb had a negative return on equity of 16.74% and a negative net margin of 108.11%.

Several other equities research analysts have also weighed in on OABI. Weiss Ratings upgraded OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 20th. Leerink Partners increased their price target on OmniAb from $10.00 to $12.00 and gave the company an “outperform” rating in a report on Wednesday, October 7th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, OmniAb currently has an average rating of “Moderate Buy” and an average target price of $11.50.

OmniAb Stock Performance

Shares of NASDAQ OABI opened at $5.15 on Monday. The business’s 50-day simple moving average is $4.68 and its 200-day simple moving average is $2.74. OmniAb has a 52 week low of $1.30 and a 52 week high of $5.43. The firm has a market cap of $745.62 million, a price-to-earnings ratio of -15.15 and a beta of 0.60.

Institutional Investors Weigh In On OmniAb

Several hedge funds and other institutional investors have recently made changes to their positions in OABI. Whitefort Capital Management LP bought a new position in shares of OmniAb in the second quarter worth about $25,211,699. BlackRock Inc. bought a new stake in OmniAb during the 2nd quarter valued at approximately $21,888,000. Rice Hall James & Associates LLC bought a new stake in OmniAb during the 2nd quarter valued at approximately $6,422,000. ADAR1 Capital Management LLC bought a new stake in OmniAb during the 2nd quarter valued at approximately $2,331,000. Finally, Bank of New York Mellon Corp acquired a new stake in OmniAb in the 2nd quarter valued at approximately $783,000. 72.08% of the stock is owned by institutional investors and hedge funds.

About OmniAb

OmniAb, Inc is a biotechnology company that develops and licenses antibody discovery technologies for use in drug research and development. Its platform is designed to help biopharmaceutical companies generate fully human and species-diverse antibodies that can be evaluated as potential treatments for a range of diseases.

The company’s technology portfolio includes genetically engineered animal platforms, such as OmniRat, OmniMouse and OmniChicken, which are used to produce antibody candidates against challenging biological targets.