HC Wainwright Reiterates Buy Rating for OmniAb (NASDAQ:OABI)

HC Wainwright reissued their buy rating on shares of OmniAb (NASDAQ:OABI) in a research note published on Monday, Benzinga reports. The brokerage currently has a $11.00 target price on the stock.

Separately, Benchmark reiterated a buy rating and issued a $8.00 price target on shares of OmniAb in a research note on Tuesday, May 14th.

OmniAb Trading Up 2.7 %

NASDAQ OABI opened at $4.22 on Monday. The stock has a market capitalization of $496.34 million, a price-to-earnings ratio of -6.59 and a beta of -0.11. The business’s 50 day moving average is $4.28 and its two-hundred day moving average is $4.81. OmniAb has a 12-month low of $3.56 and a 12-month high of $6.72.

OmniAb (NASDAQ:OABI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The company had revenue of $7.61 million for the quarter, compared to analyst estimates of $6.52 million. OmniAb had a negative return on equity of 19.93% and a negative net margin of 301.62%. During the same quarter in the prior year, the company posted ($0.15) EPS. Equities analysts forecast that OmniAb will post -0.66 earnings per share for the current fiscal year.

Insider Buying and Selling at OmniAb

In related news, CEO Matthew W. Foehr purchased 240,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average cost of $4.42 per share, with a total value of $1,060,800.00. Following the completion of the purchase, the chief executive officer now owns 3,536,665 shares of the company’s stock, valued at approximately $15,632,059.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On OmniAb

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in shares of OmniAb during the fourth quarter valued at about $38,000. Hartline Investment Corp acquired a new position in OmniAb in the first quarter worth about $54,000. Bellevue Group AG acquired a new stake in shares of OmniAb during the first quarter worth approximately $62,000. Cape Investment Advisory Inc. acquired a new stake in shares of OmniAb during the fourth quarter worth approximately $64,000. Finally, Catalina Capital Group LLC bought a new stake in shares of OmniAb during the first quarter valued at approximately $69,000. 72.08% of the stock is currently owned by institutional investors.

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.