OmniAb (NASDAQ:OABI) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of OmniAb (NASDAQ:OABI) in a report published on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock.

Several other equities analysts have also commented on OABI. Royal Bank of Canada reissued an “outperform” rating and issued a $7.00 target price on shares of OmniAb in a report on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research note on Thursday.

OmniAb Stock Performance

Shares of NASDAQ OABI traded down $0.19 during midday trading on Thursday, reaching $3.88. 737,046 shares of the company traded hands, compared to its average volume of 505,689. OmniAb has a 12 month low of $3.56 and a 12 month high of $6.72. The stock’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $4.28. The firm has a market cap of $458.46 million, a PE ratio of -6.27 and a beta of -0.12.

OmniAb (NASDAQ:OABI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The business had revenue of $4.17 million during the quarter, compared to analyst estimates of $8.87 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. On average, equities research analysts expect that OmniAb will post -0.58 EPS for the current year.

Institutional Investors Weigh In On OmniAb

Hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in OmniAb by 1.7% in the 3rd quarter. State Street Corp now owns 2,031,676 shares of the company’s stock valued at $8,594,000 after purchasing an additional 34,654 shares during the last quarter. Murchinson Ltd. bought a new position in shares of OmniAb in the 3rd quarter valued at $4,230,000. PDT Partners LLC acquired a new stake in shares of OmniAb during the 3rd quarter valued at $123,000. Walleye Capital LLC bought a new stake in OmniAb during the 3rd quarter worth $61,000. Finally, BBR Partners LLC increased its holdings in OmniAb by 250.0% in the 3rd quarter. BBR Partners LLC now owns 70,000 shares of the company’s stock worth $296,000 after purchasing an additional 50,000 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors and hedge funds.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.