OmniAb (NASDAQ:OABI) Earns "Buy" Rating from HC Wainwright

OmniAb (NASDAQ:OABI - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $11.00 target price on the stock. HC Wainwright's target price would indicate a potential upside of 334.78% from the stock's previous close. HC Wainwright also issued estimates for OmniAb's Q4 2025 earnings at ($0.15) EPS and FY2029 earnings at ($0.29) EPS.

OmniAb Price Performance

OmniAb stock traded up $0.26 during midday trading on Wednesday, hitting $2.53. 2,310,985 shares of the company were exchanged, compared to its average volume of 538,406. The company's fifty day moving average price is $3.34 and its 200-day moving average price is $3.76. The company has a market cap of $357.28 million, a PE ratio of -4.08 and a beta of -0.14. OmniAb has a fifty-two week low of $2.23 and a fifty-two week high of $5.63.

OmniAb (NASDAQ:OABI - Get Free Report) last released its quarterly earnings results on Tuesday, March 18th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.01. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.13 million. OmniAb had a negative return on equity of 20.97% and a negative net margin of 308.78%. During the same period in the previous year, the company posted ($0.14) EPS. On average, analysts expect that OmniAb will post -0.61 EPS for the current fiscal year.

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Insiders Place Their Bets

In other OmniAb news, CFO Kurt A. Gustafson sold 15,526 shares of OmniAb stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total transaction of $50,304.24. Following the sale, the chief financial officer now directly owns 212,720 shares in the company, valued at $689,212.80. The trade was a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Higgins acquired 125,750 shares of the company's stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $2.35 per share, for a total transaction of $295,512.50. Following the completion of the acquisition, the director now directly owns 2,762,887 shares in the company, valued at $6,492,784.45. The trade was a 4.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 112,260 shares of company stock worth $376,601 in the last three months. 8.60% of the stock is owned by insiders.

Institutional Investors Weigh In On OmniAb

Several hedge funds and other institutional investors have recently bought and sold shares of OABI. Murchinson Ltd. purchased a new stake in OmniAb during the 3rd quarter worth approximately $4,230,000. JPMorgan Chase & Co. increased its holdings in shares of OmniAb by 582.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,001,797 shares of the company's stock valued at $3,546,000 after acquiring an additional 854,929 shares during the last quarter. Royce & Associates LP increased its holdings in shares of OmniAb by 438.6% in the 4th quarter. Royce & Associates LP now owns 707,080 shares of the company's stock valued at $2,503,000 after acquiring an additional 575,796 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of OmniAb by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,025,674 shares of the company's stock valued at $10,711,000 after acquiring an additional 142,513 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in shares of OmniAb in the 4th quarter valued at approximately $393,000. 72.08% of the stock is currently owned by hedge funds and other institutional investors.

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.