OmniAb (NASDAQ:OABI) Hits New 12-Month High – Here’s What Happened

OmniAb, Inc. (NASDAQ:OABI)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $3.43 and last traded at $3.4750, with a volume of 178209 shares trading hands. The stock had previously closed at $3.39.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

OmniAb Price Performance

The stock has a 50 day moving average price of $2.28 and a two-hundred day moving average price of $1.97. The firm has a market capitalization of $504.70 million, a price-to-earnings ratio of -9.71 and a beta of 0.45.

OmniAb (NASDAQ:OABI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. OmniAb had a negative return on equity of 16.59% and a negative net margin of 115.12%.The firm had revenue of $13.41 million for the quarter, compared to analyst estimates of $4.69 million. As a group, research analysts expect that OmniAb, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OABI. Squarepoint Ops LLC increased its stake in OmniAb by 114.2% during the 3rd quarter. Squarepoint Ops LLC now owns 35,431 shares of the company’s stock worth $57,000 after buying an additional 18,890 shares during the period. Corient Private Wealth LLC acquired a new stake in OmniAb during the 2nd quarter worth approximately $53,000. Cerity Partners LLC boosted its position in OmniAb by 111.5% in the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock valued at $39,000 after buying an additional 11,919 shares during the period. BNP Paribas Financial Markets grew its stake in shares of OmniAb by 92.5% in the third quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock worth $35,000 after acquiring an additional 10,438 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of OmniAb in the first quarter worth $25,000. Hedge funds and other institutional investors own 72.08% of the company’s stock.

OmniAb Company Profile

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.