OmniAb (NASDAQ:OABI) Sets New 1-Year High – What’s Next?

OmniAb, Inc. (NASDAQ:OABI) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.43 and last traded at $5.04, with a volume of 5080122 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of OmniAb in a research report on Monday, August 17th. Weiss Ratings raised OmniAb from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.00.

OmniAb Price Performance

The company’s 50-day simple moving average is $2.91 and its two-hundred day simple moving average is $2.26. The firm has a market capitalization of $729.71 million, a P/E ratio of -14.00 and a beta of 0.61.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings data 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 firm had revenue of $13.41 million during the quarter, compared to the consensus estimate of $4.69 million. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. Analysts predict that OmniAb, Inc. will post -0.35 earnings per share for the current year.

Institutional Trading of OmniAb

Hedge funds have recently bought and sold shares of the stock. Whitefort Capital Management LP purchased a new stake in OmniAb in the second quarter worth about $25,211,699. Rice Hall James & Associates LLC purchased a new position in shares of OmniAb during the 2nd quarter valued at about $6,422,000. ADAR1 Capital Management LLC purchased a new position in shares of OmniAb during the 2nd quarter valued at about $2,331,000. BlackRock Inc. purchased a new position in shares of OmniAb during the 2nd quarter valued at about $21,888,000. Finally, Deutsche Bank AG bought a new position in shares of OmniAb during the 2nd quarter valued at approximately $248,000. 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.