OmniAb's (OABI) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of OmniAb (NASDAQ:OABI - Free Report) in a research report released on Thursday morning,Benzinga reports. They currently have a $11.00 target price on the stock.

A number of other brokerages have also recently commented on OABI. Benchmark reaffirmed a "buy" rating and set a $8.00 price target on shares of OmniAb in a research report on Monday, August 19th. Royal Bank of Canada reiterated an "outperform" rating and issued a $7.00 target price on shares of OmniAb in a research note on Friday, August 16th.

OmniAb Price Performance

OmniAb stock remained flat at $4.07 during midday trading on Thursday. 546,633 shares of the company traded hands, compared to its average volume of 504,637. The company has a market capitalization of $480.91 million, a PE ratio of -6.74 and a beta of -0.12. OmniAb has a 1-year low of $3.56 and a 1-year 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.

OmniAb (NASDAQ:OABI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The company had revenue of $4.17 million for the quarter, compared to the consensus estimate of $8.87 million. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.77%. As a group, analysts predict that OmniAb will post -0.58 EPS for the current year.

Institutional Investors Weigh In On OmniAb

Institutional investors and hedge funds have recently made changes to their positions in the business. Bleakley Financial Group LLC raised its holdings in shares of OmniAb by 80.9% in the 1st quarter. Bleakley Financial Group LLC now owns 34,250 shares of the company's stock valued at $186,000 after acquiring an additional 15,321 shares in the last quarter. Vanguard Group Inc. raised its stake in OmniAb by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,713,539 shares of the company's stock valued at $30,967,000 after purchasing an additional 62,131 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in OmniAb by 13.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,843 shares of the company's stock valued at $146,000 after purchasing an additional 3,108 shares during the last quarter. Bellevue Group AG purchased a new position in OmniAb in the 1st quarter worth approximately $62,000. Finally, Janus Henderson Group PLC increased its holdings in shares of OmniAb by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 7,859,438 shares of the company's stock worth $42,598,000 after buying an additional 81,541 shares during the last quarter. Hedge funds and other institutional investors own 72.08% of the company's stock.

About OmniAb

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.