HC Wainwright Brokers Cut Earnings Estimates for OmniAb, Inc. (NASDAQ:OABI)

OmniAb, Inc. (NASDAQ:OABI) – Research analysts at HC Wainwright decreased their FY2024 earnings per share estimates for OmniAb in a research report issued on Thursday, March 21st. HC Wainwright analyst J. Pantginis now expects that the company will post earnings of ($0.41) per share for the year, down from their previous estimate of ($0.39). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for OmniAb’s current full-year earnings is ($0.53) per share. HC Wainwright also issued estimates for OmniAb’s Q4 2024 earnings at ($0.09) EPS and FY2028 earnings at ($0.03) EPS.

A number of other research analysts also recently commented on OABI. Truist Financial reiterated a “buy” rating and set a $10.00 target price on shares of OmniAb in a research report on Tuesday. Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of OmniAb in a research report on Friday, March 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Thursday, March 21st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, OmniAb currently has an average rating of “Buy” and a consensus price target of $9.20.

OmniAb Price Performance

NASDAQ OABI opened at $5.19 on Monday. OmniAb has a 1-year low of $3.14 and a 1-year high of $6.72. The business has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $5.33. The stock has a market capitalization of $603.29 million, a PE ratio of -10.18 and a beta of -0.16.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in OmniAb by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 5,651,408 shares of the company’s stock valued at $34,869,000 after buying an additional 155,464 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of OmniAb by 10.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 189,437 shares of the company’s stock valued at $1,169,000 after acquiring an additional 18,542 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of OmniAb in the fourth quarter valued at approximately $100,000. Price T Rowe Associates Inc. MD grew its stake in OmniAb by 10.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,735 shares of the company’s stock worth $148,000 after purchasing an additional 2,238 shares in the last quarter. Finally, Barclays PLC increased its holdings in OmniAb by 352.2% during the 4th quarter. Barclays PLC now owns 145,298 shares of the company’s stock worth $896,000 after purchasing an additional 113,170 shares during the period. 72.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Matthew W. Foehr acquired 225,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were acquired at an average price of $5.19 per share, for a total transaction of $1,167,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,908,803 shares of the company’s stock, valued at approximately $15,096,687.57. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.00% of the stock is owned by corporate insiders.

OmniAb Company Profile

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.