OmniAb (NASDAQ:OABI - Get Free Report) had its target price decreased by equities research analysts at Royal Bank of Canada from $7.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's target price points to a potential upside of 66.32% from the company's previous close.
Other analysts have also recently issued research reports about the stock. Benchmark lowered their target price on shares of OmniAb from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. HC Wainwright reaffirmed a "buy" rating and set a $11.00 price objective on shares of OmniAb in a report on Wednesday, March 19th.
View Our Latest Stock Analysis on OABI
OmniAb Price Performance
Shares of NASDAQ OABI traded down $0.02 during mid-day trading on Thursday, hitting $2.41. The company had a trading volume of 208,995 shares, compared to its average volume of 549,758. OmniAb has a 12 month low of $2.23 and a 12 month high of $5.54. The firm has a market cap of $339.62 million, a P/E ratio of -3.88 and a beta of -0.14. The business's 50-day simple moving average is $3.26 and its 200-day simple moving average is $3.70.
OmniAb (NASDAQ:OABI - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.01. The company 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 quarter last year, the firm earned ($0.14) EPS. As a group, sell-side analysts predict that OmniAb will post -0.61 EPS for the current year.
Insider Activity at OmniAb
In other OmniAb news, CFO Kurt A. Gustafson sold 15,526 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $3.24, for a total value of $50,304.24. Following the transaction, the chief financial officer now owns 212,720 shares of the company's stock, valued at approximately $689,212.80. The trade was a 6.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew W. Foehr sold 41,811 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $3.24, for a total value of $135,467.64. Following the completion of the sale, the chief executive officer now owns 3,749,639 shares of the company's stock, valued at approximately $12,148,830.36. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,260 shares of company stock valued at $376,601 in the last ninety days. Insiders own 8.60% of the company's stock.
Hedge Funds Weigh In On OmniAb
A number of large investors have recently modified their holdings of OABI. Hsbc Holdings PLC bought a new position in OmniAb in the 4th quarter worth approximately $38,000. Choreo LLC bought a new stake in shares of OmniAb during the fourth quarter worth $41,000. Rangeley Capital LLC acquired a new position in shares of OmniAb during the fourth quarter valued at $41,000. KLP Kapitalforvaltning AS bought a new position in OmniAb in the fourth quarter valued at about $49,000. Finally, Walleye Capital LLC acquired a new stake in OmniAb in the third quarter worth about $61,000. 72.08% of the stock is currently owned by institutional investors and hedge funds.
OmniAb Company Profile
(
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.
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