OmniAb (NASDAQ:OABI) Trading Down 5.5% – Here’s What Happened

Posted by Cynthia Vaughn on Dec 13th, 2024

OmniAb, Inc. (NASDAQ:OABI – Get Free Report) shares were down 5.5% during trading on Friday . The stock traded as low as $3.75 and last traded at $3.78. Approximately 101,346 shares changed hands during trading, a decline of 80% from the average daily volume of 501,356 shares. The stock had previously closed at $4.00.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of OmniAb in a research report on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of OmniAb in a report on Thursday, November 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $7.00 price target on shares of OmniAb in a report on Friday, August 16th.

Read Our Latest Research Report on OABI

OmniAb Stock Down 5.3 %

The business’s 50 day moving average is $4.04 and its 200-day moving average is $4.20.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its stake in OmniAb by 321.5% during the third quarter. Barclays PLC now owns 143,215 shares of the company’s stock worth $606,000 after acquiring an additional 109,236 shares during the period. State Street Corp grew its stake in shares of OmniAb by 1.7% in the third quarter. State Street Corp now owns 2,031,676 shares of the company’s stock worth $8,594,000 after purchasing an additional 34,654 shares in the last quarter. Murchinson Ltd. acquired a new position in shares of OmniAb during the third quarter valued at $4,230,000. PDT Partners LLC bought a new stake in shares of OmniAb during the third quarter valued at about $123,000. Finally, Walleye Capital LLC bought a new position in OmniAb in the 3rd quarter valued at about $61,000. 72.08% of the stock is owned by institutional investors and hedge funds.

About OmniAb

(Get Free Report)

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.