OmniAb’s (OABI) “Buy” Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of OmniAb (NASDAQ:OABI) in a research report sent to investors on Monday, Benzinga reports. They currently have a $8.00 target price on the stock.

OABI has been the subject of several other research reports. Royal Bank of Canada restated an outperform rating and set a $7.00 price target on shares of OmniAb in a research report on Friday, August 16th. HC Wainwright restated a buy rating and set a $11.00 price target on shares of OmniAb in a research report on Monday, August 12th.

OmniAb Stock Performance

OmniAb stock opened at $4.17 on Monday. The company has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $4.76. The firm has a market capitalization of $490.45 million, a P/E ratio of -6.50 and a beta of -0.11. OmniAb has a one year low of $3.56 and a one year high of $6.72.

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

Insider Buying and Selling

In related news, CEO Matthew W. Foehr acquired 240,000 shares of OmniAb stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $4.42 per share, with a total value of $1,060,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,536,665 shares of the company’s stock, valued at approximately $15,632,059.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On OmniAb

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in OmniAb by 1.0% in the 1st quarter. Janus Henderson Group PLC now owns 7,859,438 shares of the company’s stock valued at $42,598,000 after acquiring an additional 81,541 shares during the last quarter. Vanguard Group Inc. lifted its holdings in OmniAb by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 5,713,539 shares of the company’s stock valued at $30,967,000 after acquiring an additional 62,131 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in OmniAb by 0.8% in the 1st quarter. William Blair Investment Management LLC now owns 3,364,346 shares of the company’s stock valued at $18,235,000 after acquiring an additional 27,105 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in OmniAb by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,012,216 shares of the company’s stock valued at $11,296,000 after acquiring an additional 194,835 shares during the last quarter. Finally, Orchard Capital Management LLC lifted its holdings in OmniAb by 6.1% in the 4th quarter. Orchard Capital Management LLC now owns 1,358,028 shares of the company’s stock valued at $8,379,000 after acquiring an additional 77,838 shares during the last quarter. 72.08% of the stock is owned by institutional investors and hedge funds.

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.