OmniAb (NASDAQ:OABI) Reaches New 1-Year High – Here’s What Happened

OmniAb, Inc. (NASDAQ:OABI) reached a new 52-week high on Tuesday . The company traded as high as $3.43 and last traded at $3.4750, with a volume of 178209 shares traded. The stock had previously closed at $3.39.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded OmniAb from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

OmniAb Stock Up 1.2%

The stock has a market cap of $495.16 million, a P/E ratio of -9.50 and a beta of 0.45. The firm’s 50-day moving average is $2.31 and its two-hundred day moving average is $1.99.

OmniAb (NASDAQ:OABI) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $13.41 million during the quarter, compared to the consensus estimate of $4.69 million. OmniAb had a negative net margin of 115.12% and a negative return on equity of 16.59%. Analysts anticipate that OmniAb, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of OmniAb

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. boosted its stake in shares of OmniAb by 214.4% during the 2nd quarter. Osaic Holdings Inc. now owns 14,247 shares of the company’s stock worth $25,000 after acquiring an additional 9,716 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of OmniAb in the 1st quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its stake in shares of OmniAb by 92.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 21,721 shares of the company’s stock valued at $35,000 after acquiring an additional 10,438 shares in the last quarter. State of Wyoming lifted its holdings in OmniAb by 101.7% in the 1st quarter. State of Wyoming now owns 24,694 shares of the company’s stock worth $39,000 after purchasing an additional 12,451 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in OmniAb by 111.5% in the 2nd quarter. Cerity Partners LLC now owns 22,612 shares of the company’s stock worth $39,000 after purchasing an additional 11,919 shares during the last quarter. Institutional investors and hedge funds own 72.08% of the company’s stock.

OmniAb Company Profile

OmniAb, Inc (NASDAQ: OABI) operates as a biotechnology company specializing in the discovery and development of therapeutic antibodies. The company’s integrated antibody discovery platform combines proprietary transgenic animal models, in vitro screening, and in silico engineering to accelerate lead identification and optimization. OmniAb offers both fee-for-service collaborations and license agreements, enabling biopharmaceutical partners to leverage its suite of technologies for programs spanning oncology, immunology, and other therapeutic areas.

Founded in 2016 and headquartered in Seattle, Washington, OmniAb went public in May 2021.